ZuluTrade Blog

BTCUSD is facing 3900$ level

Market View | Monday, September 18, 2017 10:36 AM GMT

As we had explained previous week, the Bitcoin reached the downside target and bounced aggressively on the major Fibonacci retracement level of 61.8%. It is currently facing a major resistance level at 3900$. In the same area, there is the 200 SMA on the 4hours timeframe. Bears may have a decent intraday selling opportunity now. On the other hand, we have noted two strong supports at 3400 and 3181 where bulls may have potential buying opportunities. The Bitcoin will negate the bearish intraday outlook if price closes above and confirms the 200 SMA.

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