BTC 8HR Chart - Levels
BTC is having trouble breaking above the 50K resistance zone,
Levels indicated are the possible targets for continuation to the upside. The first green zone is already hit in smaller time frame 1hr chart( you may refer to my other TA for 1HR time frame anlysis).
42-43K is one of the strongest possible bounce at 0.382 for the next wave if we consider the move from 29K to 50K as the 1st wave.
If we go below 0.382, we can look at left and see the 0.5 and 0.628 are also a relevant levels of previous resistance that are candidates to become strong support.
If we go below 0.618 Fib levels, anything can happen, but bears could be having an edge at that point but it is very early to tell.
If we break below 30K that could be problematic for bulls at there is a chance we go back to 25K as a possibility from our monthly time frame TA(see from my other TA post).
no financial advice
Levels indicated are the possible targets for continuation to the upside. The first green zone is already hit in smaller time frame 1hr chart( you may refer to my other TA for 1HR time frame anlysis).
42-43K is one of the strongest possible bounce at 0.382 for the next wave if we consider the move from 29K to 50K as the 1st wave.
If we go below 0.382, we can look at left and see the 0.5 and 0.628 are also a relevant levels of previous resistance that are candidates to become strong support.
If we go below 0.618 Fib levels, anything can happen, but bears could be having an edge at that point but it is very early to tell.
If we break below 30K that could be problematic for bulls at there is a chance we go back to 25K as a possibility from our monthly time frame TA(see from my other TA post).
no financial advice
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