Is Bitcoin pulling back from 34000?!
After breaking the important support of 38000 which was Ratio 78.6 of FIBO, we can suppose 2 scenario for btc within next days and weeks. downward from this support limit, we have 3 Action Zone in probable route of bitcoin.
1st Scen. : bitcoin entranced to upper action zone a few days ago. now btc stand on 36400 price, exactly upper border of this zone. if that breaks the 34000 again, it reach to lower border of this zone means: 29500! but in according to extreme decent momentum, it will break this support probably. if this happens, because of intense fear index btc can drop to middle action zone and face with prices like: 24100, 22900 or 21700! this zone is powerful adequately and that can pull back from this zone. but if this zone can't reaction to the dropping, then btc might reach to the lowest price like 16300! anyway this probable is low at present time.
2nd Scen. : bitcoin after touching 32900 in upper action zone will pull back toward up resistance and will break them until 40600 which is very important for comeback. now btc is on upper border of this zone(price 36400 App.) for doing this bitcoin needs to in a 2 or 3 days reach to beyond of 41300.
in other hand volume indicator and RSI show a plus divergence. therefore maybe we should wait for good happens within next weeks!
1st Scen. : bitcoin entranced to upper action zone a few days ago. now btc stand on 36400 price, exactly upper border of this zone. if that breaks the 34000 again, it reach to lower border of this zone means: 29500! but in according to extreme decent momentum, it will break this support probably. if this happens, because of intense fear index btc can drop to middle action zone and face with prices like: 24100, 22900 or 21700! this zone is powerful adequately and that can pull back from this zone. but if this zone can't reaction to the dropping, then btc might reach to the lowest price like 16300! anyway this probable is low at present time.
2nd Scen. : bitcoin after touching 32900 in upper action zone will pull back toward up resistance and will break them until 40600 which is very important for comeback. now btc is on upper border of this zone(price 36400 App.) for doing this bitcoin needs to in a 2 or 3 days reach to beyond of 41300.
in other hand volume indicator and RSI show a plus divergence. therefore maybe we should wait for good happens within next weeks!
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