BTCUSD TECHNICAL ANALYSIS ON H1 TIMEFRAME
Publish Date : 2019/11/13 - 05:06

BTCUSD TECHNICAL ANALYSIS ON H1 TIMEFRAME


Bitcoin has given in to bearish pressure as it formed lower highs and lower lows to create a descending channel on its 1-hour time frame. Price is bouncing off support and could be due for a correction to the top.

The Fib retracement tool shows that the 61.8% level is closest to the channel resistance and an area of interest around the key $9,000 handle. This also lines up with the 200 SMA dynamic inflection point, which is above the 100 SMA to signal that the downtrend is likely to resume.

close Menu
SignIn SignUp
Signals
Forex & Stock