Bitcoin is still in an ascending Fibonacci channel that it has respected since December 15, 2019 against the U.S. dollar. Strong up sloping support can be found above $9500. If this breaks the .236 Fibonacci retracement level at $8954.36 could also act as support in a bullish trend that began at the December 2018 lows. A daily close below this level would indicate that the trend is effectively over and bears are back in control. Shorts entering at this point could reliably take profits $6409.34 as there is no support above this level. If this bull run does continues however, there will be historical resistance at the .382 Fibonacci retracement level at $10,572.70.46, the .5 Fibonacci retrace at $11,846.22, the .618 golden Fibonacci retrace level at $13,119.77 in addition to the up sloping channel. These targets should be considered as profit taking levels for longs as this data indicates that we are still in a bull market until a successful close below $8954.36.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.