Uptrend Started Where Expected. Possible Support Level Up
Updated
As I said earlier, I think the chance of Bitcoin falling below 28,805 USDT is minimal. Even under the yoke of China's sanctions.
The current situation with Bitcoin, combined with the China's sanctions, is the logical completion of the previous durable uptrend. So I cannot say that the Bitcoin market is totaly bearish right now.
Take a look at the chart. FIB level 1 should be a strong support level. If Bitcoin falls below 28,805 USDT level, then it threatens the beginning of a protracted bear market. I think it won't come to that. Bitcoin has been reaching these heights for too long.
A new uptrend started yesterday. There is not enough data to say for sure, but I think this uptrend could take Bitcoin to a new level of support.
What do you think about that?
Let's observe the situation together!
Not investment advice.
The current situation with Bitcoin, combined with the China's sanctions, is the logical completion of the previous durable uptrend. So I cannot say that the Bitcoin market is totaly bearish right now.
Take a look at the chart. FIB level 1 should be a strong support level. If Bitcoin falls below 28,805 USDT level, then it threatens the beginning of a protracted bear market. I think it won't come to that. Bitcoin has been reaching these heights for too long.
A new uptrend started yesterday. There is not enough data to say for sure, but I think this uptrend could take Bitcoin to a new level of support.
What do you think about that?
Let's observe the situation together!
Not investment advice.
Note
Cointelegraph published an article stating that Bitcoin bounce from 28.8K activates century-old financial model's bullish thesis.The Wyckoff Method has brought good news!
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