Now that we just crossed the .382 fib of top to bottom of the move from the year 2021 to 2023, Bitcoin has arrived at a very crucial point.
We are hovering just below 32K which is THE MAIN RESISTANCE of the whole trajectory between 20K and 69K.
AND we have formed a BEARISH divergence between the 2 current weekly tops and the corresponding RSI tops.
When Bitcoin crosses this resistance and has a solid weekly close ABOVE this resistance we finally arrived in prime bull territory.
But as long as we stay UNDER 32K you can start looking at good SHORT possibilities.
IF we go down substantially there is a main SUPPORT around 10K (the .618 fib level of the major HTF), but I don't expect us to go any lower than 14K
We are hovering just below 32K which is THE MAIN RESISTANCE of the whole trajectory between 20K and 69K.
AND we have formed a BEARISH divergence between the 2 current weekly tops and the corresponding RSI tops.
When Bitcoin crosses this resistance and has a solid weekly close ABOVE this resistance we finally arrived in prime bull territory.
But as long as we stay UNDER 32K you can start looking at good SHORT possibilities.
IF we go down substantially there is a main SUPPORT around 10K (the .618 fib level of the major HTF), but I don't expect us to go any lower than 14K