Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTCUSD).
The chart is self-explanatory. I am reviewing the Bitcoin price using Fibonacci Retracement from March 2020 to now. The price has the potential to get supported at the 30K range or 20K range if price falls. There is a CME gap around 18.5K-19K to keep in mind. If price stays below 20K for multiple days, it's going to be concerning.
Included in the chart: Trend line, Support and Resistance Lines, RSI, MFI (Money Flow Index), Fibonacci Retracement, Volume.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
I have a bunch of additional recent charts below on cryptocurrencies to review. Check them out!
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
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This chart is still in motion. Keep a close eye on the 40K-42K region if we keep moving upwards.
Nothing is a given in crypto but we know there's a very high potential for the .382 to be revisited soon. Nice look here.
MillionaireEconomics
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@TheKitchenTrader, that's very true. My biggest concern with the 0.382 Fib level is that below that area there is limited volume traded as the price pretty much went right up, so there may be a chance that it keeps falling to the 0.236 Fib level or around that. Lastly, there are a few CME gaps with the one near 0.236 Fib level at 18.5K, so price may venture down there to fill. All possibilities and just my opinion. Good luck!