Yeah, it could be a nice bottom — I see support around this area. The last time it reached this price was in December 2019 and May 2020. But if we look at the EMAs, they’re still well above. These days, I also trade based on volume, and in this case, we don’t see the same high volume we had back in 2019.
Bitcoin is currently testing a key support level around the 200-day moving average at FWB:83K , aligning with the 0.5 Fibonacci retracement level. This has led to a phase of sideways consolidation. A decisive break below the Weekly EMA21 could indicate a potential shift toward a bearish trend, while maintaining support above it may trigger a bullish...
Bitcoin is currently testing a key support level around the 200-day moving average at FWB:83K , aligning with the 0.5 Fibonacci retracement level. This has led to a phase of sideways consolidation. A decisive break below the Weekly EMA21 could indicate a potential shift toward a bearish trend, while maintaining support above it may trigger a bullish...
