#Bitcoin found resistance at $4330, bottom at $2950 back in play
In a previous idea I mentioned that if Bitcoin found heavy resistance at $4200 that would be Fibonacci retracement level 0.236 if the bottom were in at $3475.
Instead resistance was found at $4330 or level 0.382 if the bottom were to be found ultimately at $2950. BTC will find very strong horizontal support at this level most likely. Something else that would support this thesis is if there proves to be support at the $3800 level as well before it ultimately bottoms.
GBTC may Also be a buy near the bottom between $3.20 and $3.60 assuming the bottoming happens during or around market hours.
Instead resistance was found at $4330 or level 0.382 if the bottom were to be found ultimately at $2950. BTC will find very strong horizontal support at this level most likely. Something else that would support this thesis is if there proves to be support at the $3800 level as well before it ultimately bottoms.
GBTC may Also be a buy near the bottom between $3.20 and $3.60 assuming the bottoming happens during or around market hours.
Related publications
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.