Bitcoin reaching our major support!Watch for break of this level
Bitcoin has dropped absolutely perfectly after breaking our ascending support and has reached our major support at 9500. We are now watching key support at 9509 (major swing low support, Fibonacci retracement) where a clean break of this level would open a potential drop to 7572 support (Fibonacci retracement, horizontal overlap support).
RSI (34) remains under immense bearish pressure from our descending resistance line.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) remains under immense bearish pressure from our descending resistance line.
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