BTCUSD: Where are the support zones?

Hello my friends!

Are you asking yourselves, where could the support zones be? Here is my view, based on the volume ranges. Zone 2 is the most likely in my opinion.

If btc were to go much lower, we would have a trend change. I don't think so at the moment. Even though rumours are doing the rounds that the US treasury wants to take action against several financial institutions for money laundering with cryptocurrency, But that doesn't change the current situation. It rather helps that cryptos are even more accepted in the future. The payment ban in Turkey is also rather insignificant for the crypto world. And in Turkey, it is not about owning and trading, but only about paying directly.

Imo, this was or is a good and long overdue correction. It gives many the change to enter or to re-enter. In the end, the target zone is still 115 or higher for 2021.

We will know more tomorrow when the institutional investors enter the market.

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Let's see what happens.
Happy trading. :-)


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My post from Apr 17 (yesterday):

My Post Nov 19, 2020

My Post Apr 15, 2019 (2 year ago!)

Comment:

2. zone at around 45k could be reached. :-)

Comment:

we reached fib 0.5. right now we see sideways. if we hold above support zone 1 more up is likely.

Comment:

still above support zone 1 = consolidation for more up. :-)

Comment:

well done btc. we touched 2. support zone with a bullish spike candle. targets still valid.

Comment:

last bullish support zone reached. imo this was the bottom. pullback to around 42k then back to around 33k and up. :-) happy trading.

Comment:

We re consolidating at support zone 3. thats good. we re still on track. :-)