Immediate support coincides with the Fibonacci level of 0.5
Fibonacci on a daily timeframe. From the start of growth on September 29th.
After the fall, a reversal formation was drawn - CCI Divergence
Most of the indicators have already gone oversold, including the RSI
The Fear and Greed Index dropped to 34. We are entering the red zone, which means that for now, buy BTC. The expectation of a larger decline for a larger liquidation and a decline in the index to ≈ 20
If the divergences work out and support is held, the expectation of a short-term flat and a smooth growth. Since the 0.5 level bounces often.
If the level is broken, then movement into the green zone (strong support) and the expectation of a reversal formation are already there.
Fibonacci on a daily timeframe. From the start of growth on September 29th.
After the fall, a reversal formation was drawn - CCI Divergence
Most of the indicators have already gone oversold, including the RSI
The Fear and Greed Index dropped to 34. We are entering the red zone, which means that for now, buy BTC. The expectation of a larger decline for a larger liquidation and a decline in the index to ≈ 20
If the divergences work out and support is held, the expectation of a short-term flat and a smooth growth. Since the 0.5 level bounces often.
If the level is broken, then movement into the green zone (strong support) and the expectation of a reversal formation are already there.