Notice the action around the 0.5 Fib. support retracement level, it was pierced/challenged three times, each time with more force and it held on each signal instance. Support is confirmed.
(1) 28-Feb. this support level is challenged on a wick, it holds.
(2) 10 & 11 March, twice, this support level is challenged and again holds.
(3) 6, 7, 8, 9 and 10 April, five times, this supper level is challenged and Bitcoin is now trading higher, safely above.
This 1,2,3 test of support produces a curve and prices start to climb higher. Bitcoin is rising towards $85,000. The low was set at $74,500. Bitcoin is now trading $10,000 above this low. Support has been confirmed.
With support confirmed, we are set to grow long-term.
Keep in mind that this was a long and strong correction. For Bitcoin, the correction reached -32%. For Ethereum, #2, the correction reached +66%. This is huge and should be more than enough. This is good news, after the low is set, up we go.
The action is bullish once a pair trades above support.
» Do you think Bitcoin can hit $120,000 this month?
» What about $150,000 in May?
Leave a comment with your thoughts.
Namaste.
(1) 28-Feb. this support level is challenged on a wick, it holds.
(2) 10 & 11 March, twice, this support level is challenged and again holds.
(3) 6, 7, 8, 9 and 10 April, five times, this supper level is challenged and Bitcoin is now trading higher, safely above.
This 1,2,3 test of support produces a curve and prices start to climb higher. Bitcoin is rising towards $85,000. The low was set at $74,500. Bitcoin is now trading $10,000 above this low. Support has been confirmed.
With support confirmed, we are set to grow long-term.
Keep in mind that this was a long and strong correction. For Bitcoin, the correction reached -32%. For Ethereum, #2, the correction reached +66%. This is huge and should be more than enough. This is good news, after the low is set, up we go.
The action is bullish once a pair trades above support.
» Do you think Bitcoin can hit $120,000 this month?
» What about $150,000 in May?
Leave a comment with your thoughts.
Namaste.
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🚨 You need PREMIUM trade-numbers to profit from Cryptocurrencies —Best timing & amazing results! 👉 lamatrades.com (Since 2017)
💥💥💥 Early 2025 Results (NEW)
t.me/masteranandatrades/6119
🏆 FREE Trade-Numbers
anandatrades.com
💥💥💥 Early 2025 Results (NEW)
t.me/masteranandatrades/6119
🏆 FREE Trade-Numbers
anandatrades.com
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.