BTC - 0.618 Support Tested
In our previous post we were pointing out how if we drop from under 100k the first levels to look for as new buying pressure would be the 0.382 and the 0.618. Those levels can be found here:
Now after going slightly higher to $99,800 those levels have changed slightly. Now the 0.618 golden Fibonacci retracement level is around $90,600. After a wick down to this level for liquidity we have seen a doji followed by a reversal. So far this seems like a really strong level for buying interest and could see a pump back to our trendline mentioned in "BTC - Current State of the Dip".
Now after going slightly higher to $99,800 those levels have changed slightly. Now the 0.618 golden Fibonacci retracement level is around $90,600. After a wick down to this level for liquidity we have seen a doji followed by a reversal. So far this seems like a really strong level for buying interest and could see a pump back to our trendline mentioned in "BTC - Current State of the Dip".
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