As announced in the previous tweet the 0.61-0.78 area has been reached. The current movement on #Bitcoin has retraced quickly into the 0.61-0.78 area on the upside. While all of CT looks euphoric with this retracement, be careful of a rejection on this level.
#BTC $BTC
A bounce is possible on the 0.5 Fibo for #Bitcoin (half retracement). However, keep a close eye on the 0.61-0.78 area. The current local bottom needs at least a retest in order to be consolidated. Also, don't forget the information that was given in my previous tweet.
#BTC $BTC
The bottom of the two previous #Bitcoin bearmarkets have each time been found below its reload zone (0.61-0.78 Fibo) with the MA200 Weekly as the main support and an RSI of 30 or less. Note that this moving average was broken each time and then quickly reintegrated afterwards.
The bottom of the two previous #Bitcoin bearmarkets have each time been found below its reload zone (0.61-0.78 Fibo) with the MA200 Weekly as the main support and an RSI of 30 or less. Note that this moving average was broken each time and then quickly reintegrated afterwards.
Good support at the bottom of the bearish channel for #Bitcoin. Break of 0.38 suggests a return to 0.61-0.78 (~$39.2k-39.7k). This would coincide with the middle channel line.
$BTC #BTC
Nevertheless, let's keep a close eye on the resistance zone that we have just reached. A clear break of it could lead to a new bullish attempt. #Bitcoin
If there is one unique feature of this #Bitcoin bullrun, it's the fact that we need to reach the last and most extreme points of the uptrend to restart the machine.