Bitcoin found an interesting support
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Loading... - Larbi Cudjoe
- 06 Feb 2023
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Bitcoin has been in a massive decline over the last year, but it stopped at interesting technical support levels, from where we may see a recovery, at least for a temporary period of time. Looking at the monthly chart, we can see it stopped at important 78,6% Fibonacci retracement that can act as a reversal point, especially if we consider important support zone between 2017 and 2019 highs.
If we respect monthly logarithmic scale chart and cycle model with 70-80% corrections, then with positive correlation to SP500 we should be aware now of risk-on sentiment and bigger recovery. Read More…
