After reaching its bottom of 9.280k BTC has hit the fibo of 0.5, but bulls did not have success breaking this barrier. Stopping its uptrend right at the 0.5 FIBO.
If analyzing the indicators RSI, ROC, and MACD, a consolidation might be on the way.
When the FIBO 0.5 (11.500 k) is broken, then we could see a new resistance level around 13.400 k
As January has been proved to be a month in which BTC underperforms, added to the current tension in the cripto market around Asia, my bet is for the flag to be broken when clearer news about the regulations that might be implemented in the Asian market come out. A healthy correction took place, and investors are now starting to evaluate new entry levels. Good news such as UFJ Financial Group launching a criptocurrency exchange in Japan might certainly help to add more confidence in the market.
If analyzing the indicators RSI, ROC, and MACD, a consolidation might be on the way.
When the FIBO 0.5 (11.500 k) is broken, then we could see a new resistance level around 13.400 k
As January has been proved to be a month in which BTC underperforms, added to the current tension in the cripto market around Asia, my bet is for the flag to be broken when clearer news about the regulations that might be implemented in the Asian market come out. A healthy correction took place, and investors are now starting to evaluate new entry levels. Good news such as UFJ Financial Group launching a criptocurrency exchange in Japan might certainly help to add more confidence in the market.