Bitcoin Support Confirmed ($120,000 In April, $150,000 In May)

Notice the action around the 0.5 Fib. support retracement level, it was pierced/challenged three times, each time with more force and it held on each signal instance. Support is confirmed.

(1) 28-Feb. this support level is challenged on a wick, it holds.

(2) 10 & 11 March, twice, this support level is challenged and again holds.

(3) 6, 7, 8, 9 and 10 April, five times, this supper level is challenged and Bitcoin is now trading higher, safely above.

This 1,2,3 test of support produces a curve and prices start to climb higher. Bitcoin is rising towards $85,000. The low was set at $74,500. Bitcoin is now trading $10,000 above this low. Support has been confirmed.

With support confirmed, we are set to grow long-term.

Keep in mind that this was a long and strong correction. For Bitcoin, the correction reached -32%. For Ethereum, #2, the correction reached +66%. This is huge and should be more than enough. This is good news, after the low is set, up we go.

The action is bullish once a pair trades above support.

» Do you think Bitcoin can hit $120,000 this month?
» What about $150,000 in May?

Leave a comment with your thoughts.

Namaste.