FIBOCRYPTOCALL for 4/19/18

XBTUSD (Bitcoin)

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

Bitcoin closed above the 200 DMA on 4/13/18 and has held above SO FAR.

Above both the 20 DMA @ 7459 and the 200 DMA @ 7962

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

The 50 DMA @ 8791 with our first long term bounce level @ 9129.

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

A CLOSE back below the 20 DMA to exit short term longs.

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