Bitcoin Price Technical Analysis for 11/14/2017 – Short-Term Downtrend, Long-Ter

[Sharon520]

Bitcoin Price Key Highlights
Bitcoin price recently broke below a short-term ascending trend line and is pulling up for a retest.
This broken support lines up with the 50% Fibonacci retracement level and could hold as resistance.
If so, bitcoin price could resume its slide to the longer-term ascending trend line around $5000.
Bitcoin price has bounced off a near-term area of interest but the broken short-term trend line is holding as a ceiling at the moment.

https://www.aicoin.com/article/1776.html

[1715638989]

1715638989

[1715638989]

1715638989

[1715638989]

1715638989

[1715638989]

1715638989

[kimamaxgreen]

After the rally from $650 to $2,969.99, the cryptocurrency had taken support at the 50 percent Fibonacci retracement levels. In the second leg of the rally, which carried Bitcoin from $1,752 to $4,975, the correction extended to 61.8 percent Fibonacci retracement levels. The current fall has retraced about 50 percent of the rally from $2,974 to $7,875.