Bitcoin Key Fibonnaci Resistance Level Bitcoin / U.S. Dollar (BITFINEX:BTCUSD) 50282.0

May 08, 2019

Edit Page

Bitcoin Key Fibonnaci Resistance Level by KQMarkets on TradingView.com

Commentary

We currently have a neutral view on bitcoin and are currently monitoring the next Fibonnaci level at around 6278.

If Bitcoin doesn't rise above this level and consolidate we are expecting Bitcoin to fall towards the previous Fibonnaci resistance level at around 5522 which is now acting as support.

Additionally, we are keeping an eye on the RSI which is currently at 76, if it falls below 70 before reversing upward again, but this time remaining below 70 and then the RSI falls again below the prior low this would generate a bearish signal.

All the content is provided for general information only and trade signals should not be construed as any form of regulated advice. It does not take into consideration your personal circumstances, including your investment objectives, risk profile, tax status, knowledge and understanding or financial situation. Past performance is no guarantee of future results.

Risk notice: Trading contracts for difference (CFDs) and Spread bets involves a high risk to your capital. Therefore, only use funds that you can afford to lose. As these products are not suitable for all investors, please ensure that you fully understand the risks involved and seek independent advice if necessary. Investment success in the past does not guarantee success in the future.

CFDs and Spread bets are leveraged products that can lead to losses that may exceed your initial capital. Make sure you fully understand the risks.

Headquartered and registered office: 1 St. Katharine's Way, London E1W 1UN, United Kingdom. KQ Markets is a company registered in England and Wales: Number 10585199. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 780026.

KQ Markets uses cookies and stores information about the use of the website.

CFD trading and securities trading are provided by StoneX. KQ Markets is an introducer of StoneX.

StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX. Apple, the Apple logo, iPod, iPad, iPod touch, and iTunes are trademarks of Apple Inc., registered in the United States and other countries. App Store is a service mark of Apple Inc. Android and Chrome are trademarks of Google Inc. Windows is a trademark of Microsoft Corporation, registered in the United States and other countries.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.