Bitcoin has ranged between $28.8K and $31.0K for the latter half of this month. We have continued this narrow range since the selloff on the 12th, and are not seeing much momentum, or buying interest, especially considering these are 'fire sale' levels with respect to last month's prices. Though we could get a lift if risk on assets like stocks find momentum, these aren't showing much hope either. A further selloff could take us back to 
25K, but after that, $20K should seem reasonable. We have a strong Fibonacci level at $19K which we feel is a floor for BTC. If we do find enough momentum to breakout, $32.3K should provide resistance, with the $34K's a likely ceiling for now.
25K, but after that, $20K should seem reasonable. We have a strong Fibonacci level at $19K which we feel is a floor for BTC. If we do find enough momentum to breakout, $32.3K should provide resistance, with the $34K's a likely ceiling for now.
Join my discord at discord.io/quantguy
Related publications
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.
Join my discord at discord.io/quantguy
Related publications
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.