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Bitcoin testing major support, possible upcoming bounce!

BITSTAMP:BTCUSD   比特幣 / 美元
Bitcoin             is testing major support at 14200 (61.8% Fibonacci retracement , horizontal overlap support, bullish divergence ) and a possible bounce could occur at this level. However there’s strong descending resistance holding price down really well. Only a clean break of this resistance level would add conviction to the rise we’re expecting.

RSI (34) sees bullish divergence vs price signaling that a possible reversal is impending. At the same time, there’s a bearish descending resistance line that needs to be broken to open an upside move.

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This analysis is provided as general market commentary and does not constitute investment advice.
Wow, walked right past the 'major' supports like they were nothing...
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lol
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Thank you for the detail, can you please tell me where BTC will go now from 13500?
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the major support was 14400, and its dead, we go to 8-11k imo .
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@neofutur, confirmed true.
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@bankbits, so true.
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doctorkesh neofutur
@neofutur, every major support becomes a major resistance later. I agree with you. Too many negative news surrounding BTC at this time. If CBOE ETF application gets refused, we will probably see BTC touch 5k though.
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