Happy Hump Day, Traders!
Bitcoin found support at $39,650 which was previous support on the 21st of September 2021 & on the 10th of January 2022 coinciding with the 61.85 Fib Fan level.
Bitcoin has met up with the 12EMA and broke out of the Red Extended Resistance Trend Line.
If Bitcoin continues to push up the expected target would be the Blue Bar above coinciding with the 50% Fib Fan, at about $47,850.
Further push upwards could take Bitcoin back to $57,788 coinciding with the 38.2% Fib Fan level and the 61.8% Fib Retracement Tool (Red Bar)
MACD: Bullish Divergence
Remember to place your Stop Loss appropriately.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Want to view my previous post on the Fib Fan?
Here it is...
Bitcoin found support at $39,650 which was previous support on the 21st of September 2021 & on the 10th of January 2022 coinciding with the 61.85 Fib Fan level.
Bitcoin has met up with the 12EMA and broke out of the Red Extended Resistance Trend Line.
If Bitcoin continues to push up the expected target would be the Blue Bar above coinciding with the 50% Fib Fan, at about $47,850.
Further push upwards could take Bitcoin back to $57,788 coinciding with the 38.2% Fib Fan level and the 61.8% Fib Retracement Tool (Red Bar)
MACD: Bullish Divergence
Remember to place your Stop Loss appropriately.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Want to view my previous post on the Fib Fan?
Here it is...
