What’s the Latest in Bitcoin? Bear or Bull?

Bitcoin in the US in the morning from futures stock markets We have stated that it is negatively differentiated. Sales increased in the indices, which were slightly green at the opening.

Looking for an excuse to fall when the US indices turned negative, Bitcoin also fell to the level of $ 44,900.

The decrease in risk appetite in Bitcoin, which was rejected from the 4-hour ma20 ($46500) during the day, makes it difficult for the price to recover.

Looking at the fibonacci levels of the last uptrend, our next support points are $43800 and $41000.

With the last drop, we have observed that many indicators have relaxed and the RSIs have bottomed out. short-term investors During a possible pullback in Bitcoin, they can evaluate the support levels and sell profits in the future reactions.

When we look for the longer term, we observe that there is a correction after a 7-week rise.

In order for these declines to remain as corrections and not continue, the weekly ma20 ($41900) must not be broken.

In the next week’s close below this level, it will become clear that the recent rise was a dead credit bounce and a bear market was confirmed.

If this level is maintained, it will be a very good buying opportunity for a new rally.

When we look at the fibonacci levels of the decline we experienced from the peak on a weekly basis, we see that we were rejected at 0.618.

After falling from $64,000 to $47,000, it rose to $58,000 with the backlash and was again rejected at 0.618. If the weekly ma20 is broken, it may be necessary to exit the market and watch for a while.

*Not Investment Advice.

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