BitcoinLong
BTC entered strong demand zone
BTC has entered a strong demand zone on monthly.
This is the region of confluence:
1. Long-term trendline.
2. 78.6% retracement region. Last bullish move also retraced around 78.6%.
3. Horizontal support region.
4. Weekly RSI is the lowest of all times.
It should bounce-back from this region- 19,900 - 13,200.
If this level is not retained, we may see it fall below 7,000.
This is the region of confluence:
1. Long-term trendline.
2. 78.6% retracement region. Last bullish move also retraced around 78.6%.
3. Horizontal support region.
4. Weekly RSI is the lowest of all times.
It should bounce-back from this region- 19,900 - 13,200.
If this level is not retained, we may see it fall below 7,000.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.