BITCOIN - Fibonacci
Updated
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.
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.
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