BTC fibbonacci and historical support line

٢٢ يناير ٢٠٢٢

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Hello, I am an investor who has been investing in Bitcoin since 2017. As interest rates rise, the liquid asset bubble bursts, Russia bans all cryptocurrencies and is on the verge of war with Ukraine.

I want to share my thoughts on Bitcoin.
The first and closest Bitcoin support is near 29,100 USD. This support level met three times in 2021. There seems to be a weak rebound in this area.

However, as BTC is currently showing a head-and-shoulder pattern indicating a possible decline, I think this support line will break this time around.

the Next support is the upper orange support line, which has been trending upward since March 2020.
What if Bitcoin collapses below this support level? BTC's upward trend from 2020 has stopped.

If so, the next support is around 18,117 USD. What will happen if this support level is broken?

Our last hope is the lower orange line indicating a bullish trend for Bitcoin since 2017. This support was maintained during the 2018 bear market.

I think this support level should be maintained. If it falls below this support level, the future of Bitcoin is over.