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BTCUSD completed the run at 423.6% precisely!

Thursday, November 30, 2017 7:57 AM GMT

Following up our late post yesterday, Bitcoin was moving parabolic during all day’s session. It reached and broke out the 10k milestone level (361.8% Fibo level) and headed at $11210, meaning 423.6% Fibo extension level. This is where the Bears stepped in or Bulls performed a big scale of profit taking. The BTCUSD retraced back around 20% to the downside.

It touched the upper side of the gap but not entered inside. It is currently moving above $9950, a major level. As long as it stays above, it keeps a short-term bullish momentum. On the other hand, if it closes and confirms the violation, the BTCUSD may continue lower at $9157.

Hourly    

Always review your own analysis, if there is a confluence between this and your own strategy, then you may have even better trading setups.

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