Price has dropped strongly for Bitcoin since its high at 20,000 just 2 weeks ago. Now we’re seeing a strong continuation triangle pattern that suggests price could drop even further. Our major support is at 13434 (Fibonacci retracement, horizontal swing low support, triangle formation) and a break of this level could push price down to 11172 support (Fibonacci extension, horizontal swing low support). Our next major level of resistance is at 14757 (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) is seeing major resistance below 99%.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) is seeing major resistance below 99%.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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