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  • Bitcoin is trading above 8K again as the market found some support.
  • Now there is some traffic that the bulls need to watch as it may stop their progress.

BTC/USD 4-Hour Chart

Bitcoin has pulled back from the 161.8% Fibonacci extension as you can see from the price below.

Now above current levels at 8,474.00 there is a resistance to watch marked in green.

If the price is to continue lower it could bounce there.

But if there is a break higher then we could attack some of the resistance points higher up.

At the moment the technical trend is still down as the market makes lower highs and lower lows.

Bitcoin price action

 

 

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