Bitcoin - test of the first important resistance
The price of Bitcoin, after a strong rally, has tested the first important resistance set by the line drawn through the tops of the previously described potential harmonic pattern. The price bounces back and this area is worth watching in the coming days or weeks.
If the line is broken, we could expect another rally towards the top of wave C at 10400 USD or at the next resistance at the top of wave A below 14000 USD. The rally which has started a few weeks ago looks like a rally from the beginning of 2019.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
If the line is broken, we could expect another rally towards the top of wave C at 10400 USD or at the next resistance at the top of wave A below 14000 USD. The rally which has started a few weeks ago looks like a rally from the beginning of 2019.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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