Will Bitcoin breakout soon?!
Hello guys!
Bitcoin recently dropped down to the 11.1k level. For some was this drop unexpected, and the question now is: Are we in a Bear market now or still Bullish?...
If you look at the RSI you can see that Bitcoin was overbought, so the drop was something we could expect.In my TA you can see that Bitcoin perfectly hit the 0.618 Fib level, and found support. You can also see that we used the Fib extension. And the 1.272 level hit PERFECT the 12,3k level and this is a big resistance level from way back in 5-6 August in 2019. So will we see a test of the 12.3k resistance level soon? I think it will happen.
Share me your thoughts, i would like to hear your guys opinions!
Cheers!
Rutger
Hello guys!
Bitcoin recently dropped down to the 11.1k level. For some was this drop unexpected, and the question now is: Are we in a Bear market now or still Bullish?...
If you look at the RSI you can see that Bitcoin was overbought, so the drop was something we could expect.In my TA you can see that Bitcoin perfectly hit the 0.618 Fib level, and found support. You can also see that we used the Fib extension. And the 1.272 level hit PERFECT the 12,3k level and this is a big resistance level from way back in 5-6 August in 2019. So will we see a test of the 12.3k resistance level soon? I think it will happen.
Share me your thoughts, i would like to hear your guys opinions!
Cheers!
Rutger