- On another terrible day for cryptocurrencies, Bitcoin falls over 5%.
- The chart below shows where the market might find some support zones.
BTC/USD Daily Chart
Bitcoin has had another bearish session falling over 5%.
Now the market has taken out some key level lets look at where the market could find support.
The BTC/USD pair seems to respect Fibonacci and Elliott Wave.
So keep an eye on the 61.8% Fibonacci retracement from the current wave at 7,990.00.
This is obviously close to the 8K psychological level.
Before that 8,500 looks like a good support level as the price has been pretty sticky there in the past.
This does look like a new 5 wave pattern lower, if this is the case we would be in the wave 3 moving down.
The 3rd wave is traditionally the longest so hold on for the ride.
|Today last price||8825.47|
|Today Daily Change||-480.84|
|Today Daily Change %||-5.17|
|Today daily open||9306.31|
|Previous Daily High||9680.16|
|Previous Daily Low||9239.78|
|Previous Weekly High||10307.33|
|Previous Weekly Low||9309.77|
|Previous Monthly High||9568.13|
|Previous Monthly Low||6856.63|
|Daily Fibonacci 38.2%||9408.01|
|Daily Fibonacci 61.8%||9511.94|
|Daily Pivot Point S1||9137.34|
|Daily Pivot Point S2||8968.37|
|Daily Pivot Point S3||8696.96|
|Daily Pivot Point R1||9577.72|
|Daily Pivot Point R2||9849.13|
|Daily Pivot Point R3||10018.11|
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