BTCUSD - FUD and Panic!

BTCUSD

Time frame - 1D

CALM YO TITS GUYS! IT IS NOT YET THE END! :-)

• First things first, it ALWAYS respects the 50 period moving average (yellow circles), so you can add that indicator to your charts.
  
• The price bounced off the strong confluence of fibonacci levels .382 and .236. FIBONACCI WORKS GUYS! Especially when they have confluence like this.
  
• Re-test of the .236 and .5 fib levels. If the price breaks through above that level, I'd say sky is the limit!
  
• BUT if it fails to do so, we might see it go down 12k-11k level before bouncing back again.
  
• The way I see it, the bears always lose the tug-of-war so we might see the rainbow again soon.
  

GOOD LUCK TRADERS! ;-)