Bears vs Bulls. (50K or 42K)
Right now we are against a daily level and .66 fib ratio which has staked its claim as a strong resistance. Now if we are reclaim this daily level then we could see a rise upto level of 50K (which also acts as a strong psychological level).
However, if we are to fall below POC of 47,130 then we could see BTC price fall to a huge demand zone of around 42k-43k level. This zone is in confluence with POC of 43k, fib retracement golden ratio and fib speed resistance fan drawn from swing low to swing high.
P.S - S/o to Chart Champions for thier great educational content for new traders. They clearly are the Beatles of trading group in crypto.
Finally this is not a financial advice. DYOR. La Hasta!!
However, if we are to fall below POC of 47,130 then we could see BTC price fall to a huge demand zone of around 42k-43k level. This zone is in confluence with POC of 43k, fib retracement golden ratio and fib speed resistance fan drawn from swing low to swing high.
P.S - S/o to Chart Champions for thier great educational content for new traders. They clearly are the Beatles of trading group in crypto.
Finally this is not a financial advice. DYOR. La Hasta!!
Penafian
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