Bitcoin Cash's gains were cut short at the 200% Fibonacci extension level ($819.2), but the bulls were tipped to drive the price higher over the next few sessions.
The Bitcoin whipsaw continues as it failed to break the marked bearish triangle’s upper angle and immediately dropped by $2000 to hit the $32,500 support, provided by a .382 Fibonacci Retracement level.
Bitcoin price has been oscillating within a narrow $450 range for the past 3 days now as bulls struggle to break over the 0.5 Fibonacci Extension level at $19,480.
Bitcoin’s price remains stuck under the key 0.618 Fibonacci level at $13,360 going into this week after little bullish momentum arrived during the opening of the US traditional markets.
Bitcoin has returned into its former range between the 0.236 Fibonacci level at $10,446 and $10,000 after prices crashed a further 3% yesterday, around 15:00 (UTC+1).
Bitcoin bulls appear to be resting right now after ricocheting off a major Fibonacci resistance at $11,390 (yellow Fibonacci levels on the daily chart).
