On Monday morning I posted my weekly market overview and pointed out that a deeper correction for cryptocurrencies can be expected. I then pointed out that for BTC there is strong support at the Yearly R2 Pivot @ 46100 (which is also a 50% Fibonacci Retracement from the Jan lows). From this level I expect the price to recover to at least 55k before looking for the next move. In the unlikely event of a more aggressive sell-off, the 36k level would act as a line in the sand.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.