Bitcoin 58k or 36k -decision point?
Welcome to the New Year 2022! I hope you welcomed go with a bang :)
Today, let's take a look at the 1M chart. We've got an interesting point that may show us the direction for the coming months. After defending 0.618fibo of the last upward move - we have a rebound, we have a rebound, the monthly increase may be lit, it may be glowing that 0.618 fibo is a strong support, so let's discuss two scenarios:
Positive Scenario:
We are now bouncing from 0.618 fibo and the price goes to 0.5-0.618 fibo rebound (orange lines), i.e. around $ 55500-58800, then, the action of the market edition what's next - there will also be around the upper Bollinger band for 1W - so the key moment. Break above 0.618fibo to possible also $ 72,900-86400.
Downside scenario:
If we want them now over 52k in the future - next, maybe we can push a downward impulse then to see around 36, but so that there can be 4 weapons and new blocks, and 1
Bollinger Bollinger.
Short term:
Currently on 1D and 4h the price is consolidating and we can count on bigger moves tomorrow, today it is also important to stay above 46k
Good luck!
Today, let's take a look at the 1M chart. We've got an interesting point that may show us the direction for the coming months. After defending 0.618fibo of the last upward move - we have a rebound, we have a rebound, the monthly increase may be lit, it may be glowing that 0.618 fibo is a strong support, so let's discuss two scenarios:
Positive Scenario:
We are now bouncing from 0.618 fibo and the price goes to 0.5-0.618 fibo rebound (orange lines), i.e. around $ 55500-58800, then, the action of the market edition what's next - there will also be around the upper Bollinger band for 1W - so the key moment. Break above 0.618fibo to possible also $ 72,900-86400.
Downside scenario:
If we want them now over 52k in the future - next, maybe we can push a downward impulse then to see around 36, but so that there can be 4 weapons and new blocks, and 1
Bollinger Bollinger.
Short term:
Currently on 1D and 4h the price is consolidating and we can count on bigger moves tomorrow, today it is also important to stay above 46k
Good luck!
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