Bitcoin cryptocurrency recently reversed down from the resistance zone between the key resistance level 123240.00 (former strong resistance from July and August) and the upper daily Bollinger Band.
The downward reversal from this resistance zone stopped the earlier short-term impulse wave 3 from the end of September.
Given the strength of the resistance level 123240.00 and the overbought daily Stochastic, Bitcoin cryptocurrency can be expected to fall to the next support level 117620.00 (former top of wave 1 from September).
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