BITCOIN should attack 50 000 this weekend!
The price of Bitcoin is directly at the POC level. This means that it is very difficult to determine the subsequent direction of movement.
Logically, the BTC should drop to around 48,200, where the level is 0.382 of Fibonacci retracement and at the same time there is a Pivot point, which often acts as a magnet.
From this level, there should be a rebound and breakthrough of the POC, if this happens, our goal will be the level of 50,000, which is a strong psychological limit.
In addition, the resistance R1 is around 50,000 and it is also a historically strong distribution area.
Bitcoin is known to sometimes ignore technical analysis and behave irrationally, in which case sudden growth is possible without correction and breaking the 50,000 straight line.
We are bullish for this weekend.
More info in our channel.
Happy trading, UCT team.
Logically, the BTC should drop to around 48,200, where the level is 0.382 of Fibonacci retracement and at the same time there is a Pivot point, which often acts as a magnet.
From this level, there should be a rebound and breakthrough of the POC, if this happens, our goal will be the level of 50,000, which is a strong psychological limit.
In addition, the resistance R1 is around 50,000 and it is also a historically strong distribution area.
Bitcoin is known to sometimes ignore technical analysis and behave irrationally, in which case sudden growth is possible without correction and breaking the 50,000 straight line.
We are bullish for this weekend.
More info in our channel.
Happy trading, UCT team.