Weekly chart shows us huge impulse (3610 - 19800). Main support level is around 6900-7500 area. We have almost hit 0.38fib level and bounced from MA 200. Now we are going to climb near the trend line to 8681-98633 area. Consolidation here. Then correction impulse to 11724-12800 (december's impulse trendline). After this bitcoin will be in accumulation phase till ~march-april. First target: 33k area.
Note
Nice bounce from MA 200, which became a support line, also we have break first resistance lane. If we will not close coming days below 8500, next target is ~9700.Note
Just hit main resistance, i think we need to accumulate some power before next try. Going near downtrend.Trade active
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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.