Bitcoin analysis

The current analysis is on the weekly frame

According to the attached form

“If the 38 level is broken, then we are going to the 0.5 Fibonacci level as shown in the drawing, at the price of 56,200 thousand dollars for Bitcoin.”

I expect that over the coming period there will be strong and rapid action before the rise is completed.”

This was our analysis of the market on April 17, that is, only two weeks ago, that is, only two candles on the weekly frame.

Indeed, it reached the 50 Fibonacci point and the price fell to 56 thousand dollars

Usually, a strong rise does not occur from this point on the Fibonacci, but rather a rebound occurs from the 0.618 point, which corresponds to 52080 as in the drawing, but not exactly. It is likely that it will be between 54 thousand and 53,000 dollars a little before this point.

This pattern is canceled at positive closes above $56,000 for Bitcoin

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