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Bitcoin Testing Its Ascending Channel

By ICmarkets
Broker
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.
Bitcoin (Cryptocurrency)bitcoinforecastBTCBTCUSDbtcusdlongChart PatternsForexforexsignalsHarmonic PatternsTrend AnalysisUSD
ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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