Technical analysis 12-03-2018 | BTC double bottom

in bitcoin •  7 years ago 

In our article yesterday, we noticed that our Fibonacci line was a strong resistance. A rebound was expected.

YesterdayDQmQegU1cyNiEdohXLFByWArC8DnCKZ4zJydsaHKN6j1ZFe.png
TodayBTCUSD 10-03-2018.PNG

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Now on a return to an up trend, we can notice that we have made a "double bottom" which has enabled us to return in our consolidation zone.
BTCUSD 10-03-2018(2).PNG

We have once again broken our bearish resistance (green), now acting as a support we can set ourselves a short-term objective: our next Fibonacci line at $10.2K which corresponds to the top of our consolidation zone.

Attention: this is not investment advice and every investment involves risks.

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  ·  7 years ago Reveal Comment

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Good analysis!!