Bitcoin Has bounced off the 0.5 Fibbonacci Retracement level from previous low around $12,800 and it bounced off the and the 4 hour ichimoku cloud kijun(think slower ema like 200 day ema, the price always wants to return to this equilibrium before continuing its trend) , which occupied the same level as the 0.5 Fib retracement Level. Also this level is right above the uptrend level and a strong horizontal price support. There seems to be a good bit of support and If the price doesn't fall below these levels, a Fibonacci extension will give us a target of $24,000.
Note
Bitcoin broke that support level but bounced on the 6 hour kijun. if it breaks that level, the bear is inNote
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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.