Daily Forecast - 07 March 2018
Bitcoin.
Bitcoin breaks 11130/11100 to keep us in a bear trend. Key to direction today is the 10800/10750 area. Holding below keeps the pressure on for a retest of the low this week at 10560 then the 50% Fibonacci at 10500/450. On further losses look for a test of support at 10210/160.
Gains are likely to be limited but holding above 10800 allows a recovery to 10930/960. If we continue higher look for strong resistance at 11100/150. Try shorts with stops above 11300.
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
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