HomeContributorsTechnical AnalysisBTCUSD Breaks Neckline Support

BTCUSD Breaks Neckline Support

Bitcoin has tumbled a fresh 2018 trading low, as investor confidence towards cryptocurrencies continues to erode. The BTCUSD pair has fallen below the $3,507 support level, triggering a bearish head and shoulders pattern. The downside projection for the bearish pattern is around $800.00, which would send the number one cryptocurrency well below the $3,000 support level.

The BTCUSD pair is strongly bearish while trading below the $3,507 level, key support is now located at the $3,000 and $2,700 levels.

If the BTCUSD pair moves above the $3,507 level, key resistance is found at the $3,800 and $4,000 levels.

Octa
Octahttp://octaengine.com/c/?p=203&bt=gif&b=2369
Octa (formerly OctaFX) is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 40 million trading accounts.

Featured Analysis

Learn Forex Trading