Bitcoin is finally approximating its most potent support level of this correction. If you plot the daily chart, you can easily spot a trendline in the candlesticks. It connects the 28k and 40k bottom.
By the time I am writing this analysis, the H4 chart is closing in a heavily oversold zone below the bottom Bollinger band. Also, according to confluence, there is an 80% probability that the Fibonacci level at 56k (right now) holds the price. Given that the market is unpredictable, I will heavily long Bitcoin whenever we touch the yellow line. It could be today, tomorrow, or next week. See you at the moon soon!
By the time I am writing this analysis, the H4 chart is closing in a heavily oversold zone below the bottom Bollinger band. Also, according to confluence, there is an 80% probability that the Fibonacci level at 56k (right now) holds the price. Given that the market is unpredictable, I will heavily long Bitcoin whenever we touch the yellow line. It could be today, tomorrow, or next week. See you at the moon soon!