$GOOG.US
Bitcoin has bounced from the 100% Fibonacci level, which opens the door to the possibility that wave (3) has already found its bottom and wave (4) is now in progress. If that scenario plays out, the next key resistance area lies between $63,411 and $64,153.
That said, I still lean bearish for now. If Bitcoin fails to break above that resistance zone and gets rejected, it would strengthen the case that Wave (3) is still extending lower. In that scenario, the next downside target is around $61,708.
#USIranDealOrNoDeal #BTC #USIranDealOrNoDeal #USJapanJointYenInterventionFirstSince2011
Bitcoin has bounced from the 100% Fibonacci level, which opens the door to the possibility that wave (3) has already found its bottom and wave (4) is now in progress. If that scenario plays out, the next key resistance area lies between $63,411 and $64,153.
That said, I still lean bearish for now. If Bitcoin fails to break above that resistance zone and gets rejected, it would strengthen the case that Wave (3) is still extending lower. In that scenario, the next downside target is around $61,708.
#USIranDealOrNoDeal #BTC #USIranDealOrNoDeal #USJapanJointYenInterventionFirstSince2011