Is Bitcoin (BTC) Out Of The Woods Yet?

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Bitcoin (BTC) is struggling to break past the 50% fib retracement level which coincides with the price of $11,230. This is a strong level to breach and as we have seen the price has faced a strong rejection here. We can expect the price to begin its downtrend from here but even if you are bullish on BTC/USD, it would be reasonable to expect a retracement at least to the trend line support. Eventually, we expect the price to end up breaking a lot lower below the trend line but short term it could find support and rally higher. The…
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Is Bitcoin (BTC) Out Of The Woods Yet?

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