Bitcoin Testing Its Ascending Channel

27 באפר׳ 2018

We see BTCUSD being held up by its ascending channel where it could potentially rise further. There could be a potential bounce on weakness at 8937 (38.2% Fibonacci retracement, horizontal overlap support) where price could rise to its resistance at 9726 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance). If it surpasses that level, it could rise to 9946 (61.8% Fibonacci extension, long term 61.8% Fibonacci extension).
Stochatic (34, 5, 3) is approaching its support at 6.8% where we expect to see a bounce.