Bitcoin Daily Gann Levels

11 May 2019

Bitcoin has moved outside of the 200-day Gann range(0/8th-8/8th levels) and is hitting resistance at the +1/8th Gann level. This is a strong pivot reversal level meaning that there is a high risk of reversal to the downside from here. If price does pull back, a 2-3 level correction is likely meaning price should come back down and test the 7/8th or 6/8th Gann levels for support. Overall, price holding within the green lines(6/8th-8/8th) on any pullback will keep price bullish going forward.