As the idea published previously a few days ago, seems like BTCUSDT
bear scenario is happening. If BTC
is really going to pull back short-term, as noted in the previous idea, I expect the support areas to be around $47k-$48k at 0.618-0.65 Fib-extension levels, which is also the previous swing low, this should be a great support zone
. However, if the price keeps dropping, the next support zone
would be around $41k - $42k area at 1 to 1 Fib-extension level, which is also the pivot
high in January before the rise to ATH
, and we have 200EMA as support as well, so $41-42k are very strong support areas.