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    Thread: Cryptocurrency Analysis

    1. 08-10-2021, 02:15 AM #11 Collapse post
      IFX_Selena
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      Bitcoin approaches first target area.

      Bitcoin continues moving higher. Price is now above $45,000 price level and is approaching our first Fibonacci target at the 61.8% retracement. Short-term trend remains bullish.

      Name: b-a-090821.jpg Views: 38 Size: 93.9 KB

      Red line -resistance (broken)

      Blue lines -Fibonacci retracements

      Bitcoin has moved above the 50% Fibonacci retracement. Our target was at the 61.8% level and we continue to expect price to reach this level and test this important Fibonacci resistance. A rejection at the 61.8% level could lead to a reversal and a pull back towards the red broken resistance trend line. If price breaks above the 61.8% retracement and stays above it, then I will be expecting price to surpass $50,000 fast.




      Name: 45.png Views: 8 Size: 15.5 KB
      Alexandros Yfantis
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