Bitcoin approaches a key level and may experience a short-term rebound.
Bitcoin continued its previous decline within the day and is currently approaching the lower support level. A short position may be taken when it touches this level. It is recommended to buy Bitcoin at 21400 with a stop loss at 20800 and a target range of 22600-23400.
The Bitcoin chart shows potential for a rebound based on the following points:
The first three-wave decline of Bitcoin has appeared and is approaching the 38.2% Fibonacci retracement level and the previous platform support area. A rebound may occur at this point.
According to the Turing wave trading system, the five-wave rise of wave A has ended, and the drop of wave B has reached a critical level. If it stabilizes here, a rebound of wave Bb may occur.
The resistance level is between 22600-23400 and the support level is between 21400-21000.
Bitcoin continued its previous decline within the day and is currently approaching the lower support level. A short position may be taken when it touches this level. It is recommended to buy Bitcoin at 21400 with a stop loss at 20800 and a target range of 22600-23400.
The Bitcoin chart shows potential for a rebound based on the following points:
The first three-wave decline of Bitcoin has appeared and is approaching the 38.2% Fibonacci retracement level and the previous platform support area. A rebound may occur at this point.
According to the Turing wave trading system, the five-wave rise of wave A has ended, and the drop of wave B has reached a critical level. If it stabilizes here, a rebound of wave Bb may occur.
The resistance level is between 22600-23400 and the support level is between 21400-21000.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.