Bitcoin trades slightly lower on Thursday as price meets some resistance at the 55 EMA. Above the current level, there is a strong Fib confluence level near 8K. Bitcoin daily chart Bitcoin is having a breather today as the price stalls at the 55 daily exponential moving average. After the pair took the 7K level it seems as if there was no looking back but today could be a dead cat bounce scenario. Looking at the volume histogram at the bottom of the chart it seems the activity is pretty thin here too. Looking closer at the technicals on the daily chart, you can see the Fibonacci extension (blue) and Fibonacci retracement (black) 61.8% area both land on 8K. That is a great zone as there is resistance there too from a previous wave and its a psychological round number. The price is some way away from the zone but these levels tend to act like a magnet for price. So if the pulls keep control then we are sure to test the area. Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next WTI tumbles almost 10% on Thursday despite agreement on output cut FX Street 2 years Bitcoin trades slightly lower on Thursday as price meets some resistance at the 55 EMA. Above the current level, there is a strong Fib confluence level near 8K. Bitcoin daily chart Bitcoin is having a breather today as the price stalls at the 55 daily exponential moving average. After the pair took the 7K level it seems as if there was no looking back but today could be a dead cat bounce scenario. Looking at the volume histogram at the bottom of the chart it seems the activity is pretty thin here too. Looking closer at the technicals on the daily… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
