Bitcoin testing ascending support, keep an eye out for this
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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