BITCOIN - 1h timeframe
Updated
On a 1 hour timeframe, the pattern conditions are such that in the short term, there is a possibility of going down and reaching about $ 37,000, and in the medium term and higher timeframes, it is an upward trend. It will be good for re-entry if it reaches the range of $ 37,000.
(Current cryptocurrency donations to the Ukrainian military have exploded from nearly $0 up to a total of over $4 Million by February 25th. This means that after the Russian invasion of Ukraine, we’ve seen an enormous wave of NGOs and volunteer groups rushing to help the country under attack.)
(Current cryptocurrency donations to the Ukrainian military have exploded from nearly $0 up to a total of over $4 Million by February 25th. This means that after the Russian invasion of Ukraine, we’ve seen an enormous wave of NGOs and volunteer groups rushing to help the country under attack.)
Comment
Considering Fibonacci levels, the 88% level stopped the recent downturns and raised prices again. As can be seen in the picture, the price has fallen to the level of 38.2%.
If the price can push itself above the 38.2% level and stabilize, I can expect further growth to the next Fibonacci level. In case of stabilization above this range, the resistance of $ 40 ,000 has been broken.
Conversely, if the acceleration accelerates again, the 61.8% level is the closest bitcoin support, followed by the 78.6% range, which is much stronger than the 61.8 level. The 88% level is after these levels, and if it breaks, the price can reach $ 32,900, which is solid static support for Bitcoin .
Comment
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