• 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.


Additional Levels


Today last price 8825.47
Today Daily Change -480.84
Today Daily Change % -5.17
Today daily open 9306.31
Daily SMA20 9896.72
Daily SMA50 9204.06
Daily SMA100 8267.82
Daily SMA200 8844.64
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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