Bitcoin has dropped perfectly to our support, prepare for bounce

Bitcoin has dropped absolutely perfectly to our major support level as expected. We now see our 1st major support at 8890 (Multiple ABC Fibonacci extension, horizontal swing low support) and a strong bounce could occur at this level to push price up to at least 11970 resistance (Fibonacci retracement, horizontal swing high resistance).

Stochastic (34,5,3) is seeing major support above 7.7% where a corresponding bounce could be expected.


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