BTC/USD (Bitcoin/ US dollar)
Bitcoin (BTC/USD) displayed some serious volatility along with many of the majors in the alt-coin complex during Thursday’s North American session. In short order, the pair sharply escalated from around the 3850 level to the 3900.00 figure before bidding a hasty retreat to the 3779 level, and then reclaiming most of its lost ground. Stops were triggered above the 3866.46 level, representing the 200-bar MA (240 minutes) and then the 3878.34 level, representing the 23.6% retracement of the 3655 – 3947.33 range. During the sharp spin lower, BTC/USD encountered technical Support just below the 3780.97 level, representing the 23.6% retracement of the move from 4188.79 to 3655.00.
Yesterday’s volatile move created an Outside Bar and the intraday Low was also around the 200-bar MA (240 minute) which came in around the 3783.02 level.
Technical Support is expected around 3763.33/ 3684.13/ 3620.14 with Stops expected below.
Technical Resistance is expected…
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