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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Bitcoin forming a strong reversal, time to short!

The price is seeing a major resistance at 15,016 (Fibonacci retracement, Fibonacci extension, bearish bat formation, horizontal swing high resistance) and we expect to see a strong drop from there to at least the 12,908 support (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is seeing the major resistance at 90% where we expect a corresponding drop.

Sell below 15016. Stop loss at 15791. Take profit at 12908.

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The material has been provided by InstaForex Company - www.instaforex.com