Bitcoin dropping nicely, watch key level of support!
Price has started to reverse nicely below our key area of resistance. We’re now watching closely as to whether price would break our key ascending support line which could possibly trigger a strong bearish drop towards 12923 support (Fibonacci extension, horizontal swing low support).
RSI (34) shows that we recently made a bearish exit and could be the precursor to the drop that could happen on bitcoin.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) shows that we recently made a bearish exit and could be the precursor to the drop that could happen on bitcoin.
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