Will Bitcoin Test 6000USD Again? USD/CHF Flashes Nice Buy Signal

Published 03/09/2018, 06:12 AM
USD/CHF
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USD/CAD
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BTC/USD
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As expected, inability to climb above the 11k USD, sent Bitcoin much lower. We managed to break the support on the 10k and, most recently, on the 8,7k USD. Currently that will be the closest resistance. The closest target is on the 6k USD.

USD/CAD broke the mid-term up trendline but it is still not enough to trigger a sell signal. For that, we need to see the breakout of the 1.2865 support (green). As long, as we stay above, buyers are still relatively safe.

USD/CHF came back above a major resistance and did that with a style – using a nice inverse head and shoulders pattern. We are above the neckline too. After a small pull back we should see a further rise. Very nice, technical setup.

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