After topping off right in the Golden Pocket zone above the 61.8%FIB level Bitcoin now finds it self bouncing hard off the 38.2%, now established FIB support...Bitcoin now can range between these two fib levels which means a price range of almost $4,000 from top to bottom. The 50% level also coincides with March of 2018 horizontal resistance and should be a pivot point for future resistance that can turn into support...Still a lot of energy in the market and Bitcoin still remains way above longer term moving averages that have not even been tested as support. If a failure of the current support area around $9600 fails to hold the next meaningful FIB support is at $7K... Should make for an exciting month of price action...Trade Safe, talk soon ...Chonis
Trade active:
50% resistance target reached. Now watch for a break or rejection to set the next trend targets