Currently 0.5 fib level at $8.4K is holding BTC from dropping to the $7.8K (highlighted in green box) which is also the 0.618 fib level. I would rather like BTC to form a here (highlighted in orange oval) for its next move up to $11.5K and beyond.
BINANCE:BTCUSDT If the 0.5 fib level at $8.4K fails to form a then $7.8K is the next likely candidate. A lot of bids would be stacked here.
Lets hope that Bitcoin takes the path marked with dark green arrows to $11.5K and beyond !
BTC has just begun to follow the path marked by dark green arrows on the chart.
We have moved up slow and steady from the 0.5 fib level at $8.4K. Oscillators are now turning favourable for Longs. Bulls would now need to break above the $9.3K to $9.5K Resistance zone and hold it as Support this week.
$7.8K zone needs to now hold as support. $8K is being tested now.