Bitcoin could pull back to $36,000-$40,000 and still be bullish! Right now, Bitcoin tagged the .618 fib at $43,700 with a little overshoot along with bearish divergence on lower time frames, so a pullback is possible. $40,000 will cement itself as a significant support level as the Daily 21 EMA and the .618 fib ($29,000-$69,000) are both located at $40,000. Regardless of the short term volatility, bitcoin will tag the .618 fib ($69,000-$32,000) at $52,000 sooner or later. Good Luck!
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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.