Bitcoin: A Fib based view on next Bitcoin Support
As you can see from the chart, the next Fib level 0.5 is at the range of 23600, so we can expect the Bitcoin to consolidate at this range in September,
Historically September month ended negatively for Bitcoin most of the time. So it's hard to expect a positive candle close for bitcoin this September.
Based on what I see we can expect further negative movement for bitcoin upto 23600 range and price consolidation at this range, this move can be very quick as we can psychological resistance at 25000, if 25K breaks then we can expect bitcoin to reach 23K range very quickly.
I would advise again any long term LONG position for bitcoin at this moment unless we see some serious stable price movement upto 27K.
Stay tuned for more updates.
Historically September month ended negatively for Bitcoin most of the time. So it's hard to expect a positive candle close for bitcoin this September.
Based on what I see we can expect further negative movement for bitcoin upto 23600 range and price consolidation at this range, this move can be very quick as we can psychological resistance at 25000, if 25K breaks then we can expect bitcoin to reach 23K range very quickly.
I would advise again any long term LONG position for bitcoin at this moment unless we see some serious stable price movement upto 27K.
Stay tuned for more updates.
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