BITSTAMP:BTCUSD BTC Bouncing from FIBO and Falling wedge [BTCUSD]

budvining (15)in #crypto • 7 years ago

BITSTAMP:BTCUSD BTC Bouncing from FIBO and Falling wedge [BTCUSD]

After massive market crash and sell off, BTC has bounced from falling wedge bottom support (The wick of candle) and it closed over FIBO 61.8. It has huge potential to bounce from this area, also the volume has slightly increased and it is a good sign. There are 2 possible ways of btc moving, if the resistance line will not be break outed the down trend will be confirmed and it will be moving down further to 8000-8500. If the resistance line at level somewhere between 12000-12300 will be break outed we will see edge to edge of wedge strategy after some corrections it can reach levels such as 15000-17000usd

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