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BTCUSD holds at 61.8% Fibo level! Is the correction over?

Friday, December 22, 2017 10:48 AM GMT

Yesterday was a difficult day for all cryptocurrencies. The king of Cryptos, Bitcoin, had reached 30% of losing value while ETHUSD and LTCUSD followed the same price action. According to the daily TF, BTCUSD bounced on 61.8% Fibonacci retracement level and it is currently trying to establish this level.


Heading to the hourly TF, we have noted two potential scenarios. The bullish one says that it will create a higher low after reaching $15210 while the bearish scenario may follow two plans. The first one says that BTCUSD will fail to go higher and heads to new low while the second plan that it will reach $15210 and it will retrace back to new lows.


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