Bitcoin is dropping really strongly and is approaching major support at 9109 (Multiple Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a strong bounce could occur at this level to push price up to at least 11772 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing major support at 7.2% and a corresponding bounce could occur at this level.
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
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.