Bitcoin reversing nicely, watch for break of ascending support!

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.
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This analysis is provided as general market commentary and does not constitute investment advice.
Quit your shitty service. You are making people lose money. I out trade you ANY DAY.
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Nebrokk Andbuss65
@Andbuss65, TA subjective so there is no right or wrong answer. With all due respect if you don't like it go look at people on Twitter that are always bullish on everything.
Andbuss65 Nebrokk
@Nebrokk, True, TA is not easy, and markets are unpredictable. You however did not show any alternatives in your graph, implying there was only one potential outcome.
Good analysis, but You didn't considered wedge forming. Same happened in ETH 2 days ago. Clean break.
It will go back now if You want to cover Your shorts, so wait a little.
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Malkaviano Malkaviano
@Malkaviano, And this is also good example how to set up stop losses when going short :)
such noobie charting, obviously you don't trade bitcoin and don't know its moves.
such a stupid noob
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Yeh nice one dude. Good job.
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