As we can see in the last month #BTC attempted to pass but couldn't to achieve to pass the 11,823 area on coinbase. In the last two days, the BTC/USD pair has broken down of the ascending channel. Its next major support area lies around $9115. If this level breaks, a fall towards the $8,412 level is possible, which is the 0.618 Fibonacci retracement levels of the pullback from $6433 to $11,823 levels.
Intraday traders are likely to get an opportunity to play the small bounce at the $9,115 levels, but the swing traders should wait until bitcoin sees a good interest.
Intraday traders are likely to get an opportunity to play the small bounce at the $9,115 levels, but the swing traders should wait until bitcoin sees a good interest.
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As we described it earlier on our yesterday's post #BTC reached $8349 and which was around the 61.8% Fib. retracement level rebounds back. We will further update you on current situation in a while.
