One month ago 12500$ was acting as a strong support but now it is a resistance, and it will be interesting to see can BTC break it.
I think that it can, and than 14000$ will be the critical point for bitcoin. Around this level, we can find interception of the bearish trend line that connects tops on the chart and the next Fibonacci level which was also very important for bitcoin around December 25th. Here might be the start point of the third down wave that forecasts a big part of the community. But even if that happens and Bitcoin start going down again, I don't believe that it can fall below 9500$.
I think that it can, and than 14000$ will be the critical point for bitcoin. Around this level, we can find interception of the bearish trend line that connects tops on the chart and the next Fibonacci level which was also very important for bitcoin around December 25th. Here might be the start point of the third down wave that forecasts a big part of the community. But even if that happens and Bitcoin start going down again, I don't believe that it can fall below 9500$.
Note
A lot of people started predicting bitcoin fall below 8000$.
I still don't believe that it can go below 9500$.
Note
BTC on the critical point. If it breaks the trend line at 11500, it can go to 14000 USD. Otherwise, we can expect retrace to 8500USD.
I think that it will break it.
Note
More and more people think that 8-9k is a perfect price to buy bitcoin. That makes me suspicious. Typically, you don't earn money just by following the crowd!! I think that it will go to 14000$.
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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.