Bitcoin that has been recently traded in the side channel of $9,000 - $9,600, has broken through the support level in the area of $9,000 and rushed down, having reached the previously calculated 25% margin level for futures with CME exchanges.
After that, we saw a rebound and a retest of the previously broken support level, which is acting as a resistance level of $9,050 now. At the moment, we see buyers having failed to return to the previously traded corridor and the price having rushed down again.
Below we have 2 fresh margin levels for CME futures, where there are some liquidation zones, which we are more likely to follow this week. The first immediate goal is in the area of $8,500 (50% margin level), which coincides with the attracting Fibonacci level of 0.618, but if panic starts on the market, then there is every chance of falling into the flesh to 100% margin level in the area of $8,200. If we fall below, we will also observe the emerging bull divergence, which will tell us about a good entry point for purchases.
After that, we saw a rebound and a retest of the previously broken support level, which is acting as a resistance level of $9,050 now. At the moment, we see buyers having failed to return to the previously traded corridor and the price having rushed down again.
Below we have 2 fresh margin levels for CME futures, where there are some liquidation zones, which we are more likely to follow this week. The first immediate goal is in the area of $8,500 (50% margin level), which coincides with the attracting Fibonacci level of 0.618, but if panic starts on the market, then there is every chance of falling into the flesh to 100% margin level in the area of $8,200. If we fall below, we will also observe the emerging bull divergence, which will tell us about a good entry point for purchases.