BTC Break-out or Fake-out!
BTC was oscillating inside a descending channel since early Nov 2021. Santa gave us a break-out pattern before Christmas but the 3rd retest of the top of channel was not successful and we went right back into the descending channel again. The Fib Resistance Fan showed strong supports and resistances during this period as well.
Yesterday, BTC broke out of the descending channel and today it's retesting the top of it. As one might notice, Fib Fan 0.25 has been acting as a strong resistance for BTC since end of Dec 2021. Can BTC gain enough momentum to break this resistance level and get to Fib Fan 0.5 (~45K) or even Fib 0.236 (~46.5K)? Lets wait and hopefully see a long green leg kicking us up!
Don't forget the power of Fib Fan Resistance levels!
P.S. This content is only for educational purposes and SHOULD NOT be considered as financial advice. Please do your own research before investing in any type of asset.
Yesterday, BTC broke out of the descending channel and today it's retesting the top of it. As one might notice, Fib Fan 0.25 has been acting as a strong resistance for BTC since end of Dec 2021. Can BTC gain enough momentum to break this resistance level and get to Fib Fan 0.5 (~45K) or even Fib 0.236 (~46.5K)? Lets wait and hopefully see a long green leg kicking us up!
Don't forget the power of Fib Fan Resistance levels!
P.S. This content is only for educational purposes and SHOULD NOT be considered as financial advice. Please do your own research before investing in any type of asset.
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