BTC - Volume Profile Levels + Trend-Based Fibonacci Extention
Fixed range volume profile was set from 15 Dec 2018 which is equal to $3135 bottom price and up to $68976 10 Nov 2021.
Based on that information I have drawn levels that show us strong zones for holding price movement. As you can see there is fighting for a 30K support level between bulls and bears. For us, it is an important zone, because if we drop below it the next support will be around $19852 which is the previous cycle high on 17 Dec 2017. Unfortunately, that zone is not strong enough and we might see an even deeper price drop to $14300 - $11300.
Let's move to the Trend-based Fibonacci extension . I have drawn it from the previous higher high of $68976 on 10 Nov 2021 to a lower low of $33037 on 24 Jan 2022 and to a lower high of $48239 on 28 March.
The last movement of BTC was down up to 0.5 level of Trend-Based Fibonacci Extention.
Potentially, if get a new higher inflation rate and U.S. Dollar Currency Index will go up we can expect the BTC price to be around 0.618 ($26198) and 0.786 ($20151).
If tomorrow we get a lower inflation rate it will give a chance for growth to 0.382 ($34694) and 0.27 ($38726).
Also, I have depicted 3 waves of bear market movement on the chart.
May the profit be with you!
Based on that information I have drawn levels that show us strong zones for holding price movement. As you can see there is fighting for a 30K support level between bulls and bears. For us, it is an important zone, because if we drop below it the next support will be around $19852 which is the previous cycle high on 17 Dec 2017. Unfortunately, that zone is not strong enough and we might see an even deeper price drop to $14300 - $11300.
Let's move to the Trend-based Fibonacci extension . I have drawn it from the previous higher high of $68976 on 10 Nov 2021 to a lower low of $33037 on 24 Jan 2022 and to a lower high of $48239 on 28 March.
The last movement of BTC was down up to 0.5 level of Trend-Based Fibonacci Extention.
Potentially, if get a new higher inflation rate and U.S. Dollar Currency Index will go up we can expect the BTC price to be around 0.618 ($26198) and 0.786 ($20151).
If tomorrow we get a lower inflation rate it will give a chance for growth to 0.382 ($34694) and 0.27 ($38726).
Also, I have depicted 3 waves of bear market movement on the chart.
May the profit be with you!
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