Possible congestion development for Bitcoin
Bitcoin daily chart finding support on its 200SMA in area 46,900 after the drop that tested successfully its 61.8% Fibonacci retracement of the July-November uptrend.
The 04th December candlestick looks bullish given its large shade, but prices made a pullback on the broken bullish trendline.
Possibility of further price compression and development of congestion before taking direction. At the moment more likely trading range opportunities.
Below 200SMA and 61.8% Fibo continuation of bear market while a breakout above its bullish trendline would create conditions for bringing buyers in control again.
The 04th December candlestick looks bullish given its large shade, but prices made a pullback on the broken bullish trendline.
Possibility of further price compression and development of congestion before taking direction. At the moment more likely trading range opportunities.
Below 200SMA and 61.8% Fibo continuation of bear market while a breakout above its bullish trendline would create conditions for bringing buyers in control again.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.