BTC/USD - Weekly Overview
From the past week, Bitcoin price level didn’t offer much to the investors and has formed a strong consolidation range. The world’s largest cryptocurrency is said to consolidate between the price range of 37K to 40K.
On the Fibonacci retracement table, the mentioned range is placed between 0.382FIB level to 0.5FIB level. The price level is having a strong support zone around 37K which is placed at 0.236FIB level.
Due to the ongoing consolidation phase for BTC, it is unable to sustain above the EMA-20 ($38,975.66). The CMP recorded ($39,085.78) is looking for sustainability above EMA-20 and can be a bullish signal if able to maintain the same.
On the Fibonacci retracement table, the mentioned range is placed between 0.382FIB level to 0.5FIB level. The price level is having a strong support zone around 37K which is placed at 0.236FIB level.
Due to the ongoing consolidation phase for BTC, it is unable to sustain above the EMA-20 ($38,975.66). The CMP recorded ($39,085.78) is looking for sustainability above EMA-20 and can be a bullish signal if able to maintain the same.
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