Ultimate Bitcoin Support Level
Bitcoin is finally approximating its most potent support level of this correction. If you plot the daily chart, you can easily spot a trendline in the candlesticks. It connects the 28k and 40k bottom.
By the time I am writing this analysis, the H4 chart is closing in a heavily oversold zone below the bottom Bollinger band. Also, according to confluence, there is an 80% probability that the Fibonacci level at 56k (right now) holds the price. Given that the market is unpredictable, I will heavily long Bitcoin whenever we touch the yellow line. It could be today, tomorrow, or next week. See you at the moon soon!
By the time I am writing this analysis, the H4 chart is closing in a heavily oversold zone below the bottom Bollinger band. Also, according to confluence, there is an 80% probability that the Fibonacci level at 56k (right now) holds the price. Given that the market is unpredictable, I will heavily long Bitcoin whenever we touch the yellow line. It could be today, tomorrow, or next week. See you at the moon soon!
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.