We may have a short consolidation period whilst we wait for the SMA's to complete their moves, however downside seems to be present for this pair on a mid to long term basis based off of the death cross beginning to form on the daily time frame between the 50 and 100 SMA's.
Further we have a clear rejection on the fibonacci retracement scale, acting as...
Expect bitcoin to come back to trend line before continuing it's rise up.
Longer stop loss is required while bitcoin is in volatile mode this will ensure your stops are not hit before the re-swing.
Expected down target ( $10k - $10300 Range) If holding here good chance it will rise again.
Lower Estimate ( $9500 - $9800 Range)
Expected Bounce Zone $10377
A change in trend on the smaller time frame means change in phase in the higher time frame. After a big spike down, price finally moved into Daily Phase 2.
I am looking for a move up to the 0.6860 level before another potential push to the downside
Although the GBP moving average is showing strong, so is the USD and the USD index still bullish from last night.
GBP is now over bought and needs a pull back before it breaks through the next key level.
IF we break out above 1.2160 the short term trend remains your friend *bullish
Watch the GBP moving average sellers sat at 1.4436