Babenski

BTC potential reversal zone

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
BTC / USDT

BTC reached the interesting reversal zone (53k-48k) and here’s why:

1-price is testing MA 100 in confluence with lower trend line of channel

2-0.618 Fibonacci level around 50k

3- G&F index now is extremely fear
Usually extremely fear mean bottom (or local bottom ) is near

In case bulls defend this level well ..next strong resistance will be 60k and after that we can see new ATH

I will need to update my view if bulls lost 48k-47k by candle closing

Do you think we around bottom or have another opinion ? Share your view about BTC in comments section below

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