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BTC 78.6% Fib level is strong and proved it in the last bull cycle. The 50k Area is strong resistance and could collapse the price back to 30k USD level, major strong support of the trend. RSI starts to get strongly overbought.
Expecting a bullish movement starting from this point. We see that an accumulation is forming above the previous ATH of 2018. Monthly indicators are flat at bottom too.
Another bull run to Fib zones is expected by myself.
We can see many similarities in BTC chart while using some indicators.
- Gaussian Channel - during the bear market we cross it down (weekly time frame) after the peak and retest of its top.
- 20MA monthly - BTC is retesting it.
- EFI - precisely shows top and bottom with bullish divergence.
- 50% Fib correction happened.
SNX touched the support near 737 satoshis and seems to reverse the trend. I am expecting a bullish movement after breaking the resistance and finishing the pullback to the blue line.
Weekly indicators are oversold.
After a long bear market I believe we can accumulate crypto currency from this point.
- We can see a long term parallel channel bottom that holds the price now.
- The price holds above weekly 300 MA a good support in the past.
- RSI and Stochastic are oversold and above historical bottom.