What a beautiful week for Bitcoin. What does the near future look like for btc?
The past seven days we've seen a range from $21,785 up to $28,530 which is a little over a 30% movement. Its been quite some time since we've been at these current prices. Last time was the week of June 06 2022 when btc melted through these levels. We've been below the current price for 40 weeks until our weekly candle closure today. Hard to not be extremely bullish right now.
Lets take a look at our fibonacci drawn from swing high($68,998) and swing low($15,560) in yellow. You can see we are finding resistence at the .236 level. We have the trend line in white over head that will act as resistance when/if price continues to climb. Once we break through .236 and trend line then our red box of support turned resistance will act as a magnet for Bitcoin. Red box of resistance is between $40,120 and $41,930.
All things considered this is your time to shine Bitcoin. Show the world why we need you.
If we start to pull back I would expect $24,380 to be strong support. We definitely don't want daily candles closing below the $24,380 level.
Enjoy the ride and stay positive.
The past seven days we've seen a range from $21,785 up to $28,530 which is a little over a 30% movement. Its been quite some time since we've been at these current prices. Last time was the week of June 06 2022 when btc melted through these levels. We've been below the current price for 40 weeks until our weekly candle closure today. Hard to not be extremely bullish right now.
Lets take a look at our fibonacci drawn from swing high($68,998) and swing low($15,560) in yellow. You can see we are finding resistence at the .236 level. We have the trend line in white over head that will act as resistance when/if price continues to climb. Once we break through .236 and trend line then our red box of support turned resistance will act as a magnet for Bitcoin. Red box of resistance is between $40,120 and $41,930.
All things considered this is your time to shine Bitcoin. Show the world why we need you.
If we start to pull back I would expect $24,380 to be strong support. We definitely don't want daily candles closing below the $24,380 level.
Enjoy the ride and stay positive.
