BITCOIN The price has reached the recent resistance zone which is 23.6% Fibonacci retracement level. At this level on daily timeframe Double Doji's are formed which is a sign of buyers lacking the momentum and sellers will take firm control
Price is currently trading within a range between 100 EMA and 50 EMA
100EMA and 10000.00 key psychological level acted as a recent support for the bull and went upto 11000.00 mark and stalled
As we posted earlier our Analysis on BITCOIN after reaching this resistance zone it will fall. Kindly check this chart
RSI is above 50 and MACD is turned in to green and oscillators are pointing upwards. If the 11133.00 resistance level broken the the next target would be 12047.00 which is a September high
Ichimoku cloud is turned red and the middle like is acting as a resistance.If the daily candle is closed below the current level then it would be a bearish engulfing candle sellers will take control and the primary target would be 8891.00 which is a 50% Fibonacci retracement level
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Comment
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After reaching the 50% Fibonacci resistance level bearish engulfing candle is formed
Trade active
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As we updated earlier after reaching 50% Fibo bearish engulfing candle is formed and falled further downwards..And approaching towards 10000.00 level
@coryvaden1 yes bro I am in favor of shorting bitcoin Positive risk sentiment will make less attractive for CRYPTO's and in recent days the USD got some strength as the economy is rebound mildly and the unemployment benefits claim is reducing gradually
If the price broke the 23.6% Fibonacci then it will be bullish upto 11000.00