Bitcoin finally near bottom
After a month of turbulent selling, Bitcoin is finally nearing strong support levels that could reverse the crypto market. The 130 day moving average, with which Bitcoin has had a predictable relationship, has been retested after nearly five months of parabolic growth. A logarithmic trend line and the 61.8 fibonacci zone have been reached. Long trades can be opened here.
Fibonacci targets are at $26000 and $30000
Fibonacci targets are at $26000 and $30000
Trade active
Bitcoin put in a strong reversal symbol with today's close, leaving a harami cross. Expect upward movement from here.
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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.