In our previous analysis, we spotted the ABC corrective wave back to the major 61.8 fibonacci.
There are multiple confluences around the 42.5K level, which are: 1) 61.8 fibonacci 2) Previous Structure 3) -27 fibonacci of the ABC corrective wave 4) 200EMA Support 5) Major trendline support
A lot of confluences, which would make the 42.5K area the best place to watch to buy Bitcoin.
An important thing to note is that we are currently testing the weekly 21EMA, which we might reject here and move up.
what now? is it possible that cause of stops and liquidations we saw such a big collaps of price to 161.8 abc fib correction?(the shaddow hits 28k today)