BTCMXN Could Reach Support Level

BTCMXN CHART PRICE – BTCMXN DAILY

Bitcoin has been down in the last two trading sessions, right now it trades at $209,000.01 MXN the Bollinger Bands seem like they are about to open up which indicates high volatility, The Relative Strength Index has also decrease in the last 2 days from 49 to 46% which is why we anticipate a drop in price in the next days, once it reaches its support level we would either wait for a breakout confirmation or check if it was just being tested in order to make a trading decision, the short term  moving averages is currently above the long term but they are about to cross, indicating a change in trend might occur. Although the price is inside the Ichimoku cloud we believe that it could reach its 0.236 Support level on the Fibonacci Retracement which would be $205,466.36 MXN

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.