Bitcoin is now testing our ascending support line which has been holding price up in its recovery since the beginning of February 2018. This is definitely a key support as if price breaks it, it would be a strong precursor to a bearish move. Drawing some correlation from our Etherium (ETHUSD) idea, this level has to hold otherwise we're seeing a potential larger collapse across cryptocurrencies.
10121 remains our key support with 23.6% Fibonacci retracement and horizontal overlap support. 23.6% is also a precursor to a larger recovery happening if that level is taken out.
It's important to watch RSI too as if it remains above 52%, the bullish bias remains.
10121 remains our key support with 23.6% Fibonacci retracement and horizontal overlap support. 23.6% is also a precursor to a larger recovery happening if that level is taken out.
It's important to watch RSI too as if it remains above 52%, the bullish bias remains.
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