FIBOCRYPTOCALL for 4/16/18

XBTUSD (Bitcoin)

The long term downtrend continues while some bounces have come along the way.

Closing above the 200 DMA on Friday.

Bitcoin has now closed higher the past 5 trading days.

Above both the 20 DMA @ 7569 and the 200 DMA @ 7876 now.

We said last week that “ A CLOSE above the 200 DMA is needed to buy ANY.”

The 50 DMA @ 8787 with our first long term bounce level @ 9129.

****I would NOT ADD to longs UNTIL it closes above 9129.

The 2/6 low @ 5922 seems to be holding so far.

If the 5922 level fails to hold, our overshoot level @ 4538 below.

Long term oversold signal is back in place at this time.

BITCOIN DAILY CHART