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Bitcoin forming a strong reversal, time to short!

Posted On 03 Jan 2018
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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.

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

Source:: Bitcoin forming a strong reversal, time to short!

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