Bitcoin daily update
We can see that Bitcoin price bounced several times from the yearly highest volume node at 41800$ (red line) which is a strong support. It tested also the monthly VWAP around 41650$ and Fib 100% extension at 41592$.
As the Bitcoin price didn't broke all that levels, we can see that there is a fair value here and market has accepted it. From that point we can see a retest of next resistance around 43800$ which is the local highest volume node and Fib 138.20% extension. Monthly VWAP upper band is close at around 44200$ where is also the global Fib 0.618 retracement.
If this price area doesn't hold, we can fall down to next supports around 38000-38500$.
As the Bitcoin price didn't broke all that levels, we can see that there is a fair value here and market has accepted it. From that point we can see a retest of next resistance around 43800$ which is the local highest volume node and Fib 138.20% extension. Monthly VWAP upper band is close at around 44200$ where is also the global Fib 0.618 retracement.
If this price area doesn't hold, we can fall down to next supports around 38000-38500$.
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