Bitcoin (BTCUSD) coming under pressure in the coming sessions
The test above the 11461.50 Fibonacci retracement has given way to consolidation.
Daily stochastics are negative and the proprietary Tension Indicator is close to generating a bearish signal, suggesting increased downside risks in the coming sessions.
A close below the 11200 pivot will add weight to sentiment and open up deeper reactions towards the 11003.37 Fibonacci retracement.
Further slippage towards the 10778.39 retracement cannot be ruled out, before mixed weekly charts prompt fresh consolidation.
Daily stochastics are negative and the proprietary Tension Indicator is close to generating a bearish signal, suggesting increased downside risks in the coming sessions.
A close below the 11200 pivot will add weight to sentiment and open up deeper reactions towards the 11003.37 Fibonacci retracement.
Further slippage towards the 10778.39 retracement cannot be ruled out, before mixed weekly charts prompt fresh consolidation.