BITCOIN (BTCUSD) - Almost there, but at risk of another sell off
Bitcoin had a great day yesterday and managed to hit the 24k that had been forecasted in the previous analysis. Whilst this is great, today's price action suggests we are not out of the woods yet and could see another sell-off occur if we do not hold above 200EMA (red line). We are currently trying to find support at 22/23k, if we can hold these price levels then there is a good chance that we will break through the bearish fibonacci speed resistance fan highlighted in blue, unlocking some macro trend upside.
A break below the highlighted zone would be the entry point for any shorts. If the price can hold these levels and create a golden cross on the 4 hour chart (where red and green cross), then it's starting to look macro bullish with a bottom intact. Don't forget to follow me on social media to get more regular updates.
A break below the highlighted zone would be the entry point for any shorts. If the price can hold these levels and create a golden cross on the 4 hour chart (where red and green cross), then it's starting to look macro bullish with a bottom intact. Don't forget to follow me on social media to get more regular updates.
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