Finding significant support at $30k for COINBASE:BTCUSD by gwfarrow96

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trendanalysis chartpattern indicator bitcoin cryptocurrency technicalanalysis accumulation

$30k is proving to be a fundamental level for bitcoin converging both as a 50% fib retracement and a horizontal support level . This does not mean that we cannot still break to the downside however. My goal through this dip is to accumulate at significant levels.

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What if it falls under the 30k mark? Do you think this correction will pull it upwards towards the 45-50k mark?

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rares_alin67

@rares_alin67, If it breaks $30 I think I would adjust my position but it would not reverse the long term trend set a few months back. In order to get to $50k we'd need to break ATH level and start establishing it as support. This will happen looking more long term as looking at logarithmic charts historically tell us this bull run still has at least another 6 - 9 months.

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rares_alin67

Thank you, for your expertiese

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