Bitcoin analysis
The current analysis is on the weekly frame
According to the attached form
First, we see very strong support at $60,500 for Bitcoin. We touched it and rebounded from it strongly, reaching approximately $66,000.
Secondly, the Fibonacci model, as drawn from the highest and lowest points, we notice that the rebound came from $61,000, which is the 38th Fibonacci level, meaning the support matches the Fibonacci level on a single line.
This is a positive point to confirm the validity of the drawn model
Perhaps the final bounce from the area between $60,000 and $59,000 is the bounce that serves as the spark for the entire market to take off, thus confirming the positivity.
If the 38 level is broken, then we are going to the 50 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
We will monitor the situation moment by moment to confirm whether the situation is rising or negative and notify you immediately
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