BTCUSD is testing its resistance, potential reversal!

11 Apr 2018

BTCUSD is testing its resistance at 6883 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it could potentially react off it, causing price to push all the way down to its 1st support at 6523.5 (61.8% Fibonacci extension x2, horizontal swing low support). If it breaks past this level, it could fall to its next support at 6434 (61.8% Fibonacci extension, horizontal swing low support). We have also identified another resistance at 7187 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (21, 5, 3) is approaching its resistance at 90% where a corresponding reaction could occur.