BTCUSD - Close to major support
BTCUSD is now very close to the 100% Fib level support ($5625). This brings us back to 11/12/2017, just before Bitfinex ramped up printing more and more Tethers.
It also puts BTC back into a linear trend line (vs the parabolic we saw last year).
If it doesn't bounce from $5500-5700, and this support range is broken, the next stop is at $3000.
It also puts BTC back into a linear trend line (vs the parabolic we saw last year).
If it doesn't bounce from $5500-5700, and this support range is broken, the next stop is at $3000.
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.