In terms of key levels, Btc is seen as a consolidation between two very important areas. The resistance area from 46500 to 48000 is the key monthly resistance. In this area, you can also see that the optical fiber retracement value of 0.236 is aligned with the 21 EMA confluence line on 1D.
The strong support area from 41700 to 44800 is also a key monthly support level. You can see the 0.382 Fibonacci retracement level and strong EMA support.
In this case, the first possible scenario is further integration between these areas and a breakthrough and stay above the resistance area.
The second possible scenario may be a crash and move to the last daily 200 EMA support level at the 41600 levels, and we can expect a good reversal.
If we break from the daily 200 EMA support, our next strong reversal zone will be the 37600 to 39600 level.
The strong support area from 41700 to 44800 is also a key monthly support level. You can see the 0.382 Fibonacci retracement level and strong EMA support.
In this case, the first possible scenario is further integration between these areas and a breakthrough and stay above the resistance area.
The second possible scenario may be a crash and move to the last daily 200 EMA support level at the 41600 levels, and we can expect a good reversal.
If we break from the daily 200 EMA support, our next strong reversal zone will be the 37600 to 39600 level.
