This is how i follow Bitcoin price.
Updated
Thanks to the fibonacci fans, I can easily see my support and resistance points and know what to do. I definitely use Rsi and Macd indicators at support and resistance points.
As you can see, we are at a very important support point.
49000$ will be the target if we can hold on here.
if we can't hold on, our new target will be 32000$.
I think Rsi is weak compared to previous support. You should also check it out.
I've been on the downside for months since $68000. You can check my previous analysis. I was constantly expecting around 29000$.
As the risk of persistence in inflation increases, maybe even lower. Because as inflation risk increases, Fed can raise rates faster than we expected.
Why i set Ema 756? Because the fibonacci fan i drew starts from 756 days ago. I like to evaluate trend formations as a whole. I think it is dangerous to go too far from moving averages in a trend.
When the pandemic first started, there was a deviation in this trend. But after that it got into the trend again.
*These are my personal thoughts, not an investment advice.
As you can see, we are at a very important support point.
49000$ will be the target if we can hold on here.
if we can't hold on, our new target will be 32000$.
I think Rsi is weak compared to previous support. You should also check it out.
I've been on the downside for months since $68000. You can check my previous analysis. I was constantly expecting around 29000$.
As the risk of persistence in inflation increases, maybe even lower. Because as inflation risk increases, Fed can raise rates faster than we expected.
Why i set Ema 756? Because the fibonacci fan i drew starts from 756 days ago. I like to evaluate trend formations as a whole. I think it is dangerous to go too far from moving averages in a trend.
When the pandemic first started, there was a deviation in this trend. But after that it got into the trend again.
*These are my personal thoughts, not an investment advice.
Note
I wouldn't be surprised if it drops below 20,000$ or even 10,000$. Because the risks of high inflation are not small. Fed could be sharper than expected.
Let's not forget that Bitcoin's rises and falls can be sharp.
When we look at the past years, we can easily see that. So we should be careful.
*These are my personal thoughts, not an investment advice.
Note
Never take my personal opinions as investment advice, you may lose your money.
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