Here's my work on Bitcoin price support:
The blue line shows a 61.8 percent retracement at $7513 of Bitcoin price, beginning at $1 thru $19666
The orange line shows a 61.8 percent retracement at $7231 of Bitcoin price, beginning at 3122.28 thru 13880 (the second bull run).
These two retracements are virtually identical in price which is adds confirmation to this price range (7231-7513) This is where Bitcoin price should have support.
All action in and above this range, is still long-term bullish.
The blue line shows a 61.8 percent retracement at $7513 of Bitcoin price, beginning at $1 thru $19666
The orange line shows a 61.8 percent retracement at $7231 of Bitcoin price, beginning at 3122.28 thru 13880 (the second bull run).
These two retracements are virtually identical in price which is adds confirmation to this price range (7231-7513) This is where Bitcoin price should have support.
All action in and above this range, is still long-term bullish.
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