Looking at the Monthly-timeframe graph on the left-hand side of the screen, it can be inferred that the price has been able to reject the crucial area of resistance highlighted on the chart that lines up with the 50% Fibonacci retracement level drawn from the top to the bottom of the bearish rally commencing in April of 2022.
Zooming into the Weekly-timeframe chart, it can be observed that the price is approaching the
25K
region of previous resistance now acting as support. Here, we are awaiting a "bounce or break" action before plotting the next game-plan.
Are you bullish or bearish on BTC/USD? Will we be witnessing another crash or we should get prepared for heading to Jupiter?
Do not hesitate to share your ideas and thoughts in the comment section below!
Zooming into the Weekly-timeframe chart, it can be observed that the price is approaching the
25K
region of previous resistance now acting as support. Here, we are awaiting a "bounce or break" action before plotting the next game-plan. Are you bullish or bearish on BTC/USD? Will we be witnessing another crash or we should get prepared for heading to Jupiter?
Do not hesitate to share your ideas and thoughts in the comment section below!