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Bitcoin bouncing nicely from support, potential for further rise

Oleh Tickmill
Broker
Bitcoin has dropped to our 1st major support as forecasted and is now bouncing off it strongly. Our 1st support is at 10319 (Fibonacci retracement, horizontal overlap support) and our major resistance is at 12970 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).

Stochastic (34,5,3) is seeing a nice bounce above 7.2% support with good upside potential.

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Bitcoin (Cryptocurrency)bitcoinideabitcoinlongbitcoinshortBTCUSDbtcusdideabtcusdlongbtcusdshortChart PatternsCryptocurrencyHarmonic PatternsTrend Analysis
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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