BTCUSD - Still on vacation - Weekly chart
Since June, Bitcoin has not been pampering us with its volatility. The bulls slowed down at the first resistance of a very strong supply zone of $31,580 - $35,900.
It consists of 50% Fibonacci from the downtrend in March 2022 supported by the Price Action zone from May-June 2021. The upper band of this zone is 38.2 Fibonacci measured from the ATH in November 2021 supported by the Price Action from January-February 2022.
The bulls will need a strong impulse to overcome this zone - it will also be a marker for me for the near future how to play the market on lower time frames.
More about this in my next analyses, where I will take a closer look at this situation.
It consists of 50% Fibonacci from the downtrend in March 2022 supported by the Price Action zone from May-June 2021. The upper band of this zone is 38.2 Fibonacci measured from the ATH in November 2021 supported by the Price Action from January-February 2022.
The bulls will need a strong impulse to overcome this zone - it will also be a marker for me for the near future how to play the market on lower time frames.
More about this in my next analyses, where I will take a closer look at this situation.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.