Bitcoin is testing major resistance at 15194 (61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal swing high resistance, bearish divergence) and we can see that there is a strong ascending trend line support that is squeezing recent price action. A break is likely to occur soon and we would increase our conviction of a potential drop if price closes strongly below our ascending support line. Next major level of support is at 12915 (Fibonacci retracement, horizontal swing low support).
RSI (34) has made a bearish exit signaling as a precursor to the potential drop 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) has made a bearish exit signaling as a precursor to the potential drop 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