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Bitcoin Bounce Incoming? We look to Buy at 39505 (stop at 38888)
Technical analysis
Bitcoin
Intraday - We look to Buy at 39505 (stop at 38888)
Trend line support is located at 41148. The spike lower found buying interest and prices moved quickly higher. We are trading at oversold extremes. Prices expected to stall near trend line support. Early pessimism is likely to lead to losses although extended attempts lower are expected to fail.
Our profit targets will be 41148 and 42048
Resistance: 41000 / 42000 / 43000
Support: 39500 / 39000 / 38000
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Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.