BTC - I just can't do it Captain, I just don't have the power!
BTC has two options, up or down. We're hitting massive resistance at 11,500 which is the downtrend line from previous highs at 20,000 and 17,500. A sustained breakthrough of 11,500 for four hours followed by a break above previous support/resistance levels of 11,900 indicates a push to 12,898 at the .5 Fibonacci level.
However a failure to breakout in the next 4-8 hours indicates a breakdown to the .236 Fibonacci at 9256 followed by a drop to previous lows at 6000.
However a failure to breakout in the next 4-8 hours indicates a breakdown to the .236 Fibonacci at 9256 followed by a drop to previous lows at 6000.
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