Fibo as a springboard for BTC growth
On the night of May 16-17, the BTC gave the long-awaited correction. Why is this good news for bulls? Let's break down the points:
• By all the rules of technical analysis, we received an ideal correction with a rebound from 50% by Fibo, which threw the price back to $ 7,200.
• The same night correction was able to close the gap to CME in the region of $ 6,430 - 6,870.
• An important consolidation zone, formed from September to November 2019, served as an excellent resistance and added strength to the upward momentum. Something like the "last touch" before pehai.
The market picture shows only bullish sentiments: its technical part and the mood of the crowd. It is likely that at least one more jerk up to $ 9,500 - 10,000.
• By all the rules of technical analysis, we received an ideal correction with a rebound from 50% by Fibo, which threw the price back to $ 7,200.
• The same night correction was able to close the gap to CME in the region of $ 6,430 - 6,870.
• An important consolidation zone, formed from September to November 2019, served as an excellent resistance and added strength to the upward momentum. Something like the "last touch" before pehai.
The market picture shows only bullish sentiments: its technical part and the mood of the crowd. It is likely that at least one more jerk up to $ 9,500 - 10,000.
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