If we take a very zoomed out look of BTC on the weekly chart we can see the following confluence points around 4-5K price range
1: 0.786 fib. retracement from the start of the bull run in 2015 (which is a very bullish and healthy retracement)
2: If we extrapolate the 200 EMA ( light blue) it will fit this price range
3: Area of high support
4: The trend line that has been respected since the bull run in 2015 coincides with this price range.
So imo a big bounce from 4-5k is highly expected
1: 0.786 fib. retracement from the start of the bull run in 2015 (which is a very bullish and healthy retracement)
2: If we extrapolate the 200 EMA ( light blue) it will fit this price range
3: Area of high support
4: The trend line that has been respected since the bull run in 2015 coincides with this price range.
So imo a big bounce from 4-5k is highly expected