• Bitcoin reversed from resistance zone
• Likely to fall to support level 60000.00
Bitcoin cryptocurrency recently reversed down from the resistance area located between the strong resistance level 66390.00 (previous monthly high from the middle of October) and the upper daily Bollinger band. The downward reversal from this resistance zone stopped the previous impulse waves (v) and 3 from the end of September.
Given the strength of the aforementioned resistance area and the clear bearish divergence on the daily Stochastic indicator , Bitcoin cryptocurrency can be expected to fall further toward the next round support level 60000.00 – followed by the support level 58285.00 (low of the previous minor correction (iv) from the end of October).