The past week for Bitcoin went negative as it was down by nearly 2% in a 7-day timeframe. On the chart, the price level formed a falling channel pattern.
However, after showcasing strong signs of accumulation around the 0.236 FIB level, the price level went for a positive breakout above the 0.382 FIB level.
The current setup suggests that BTC might have the 0.382 FIB level as the support line and have another round of accumulation for bouncing back to $30K or above.
Overall, the support levels for the world’s largest digital asset can be placed at $26K and
25K
, respectively. Conversely, resistance levels can be set at $28K and $30K.
However, after showcasing strong signs of accumulation around the 0.236 FIB level, the price level went for a positive breakout above the 0.382 FIB level.
The current setup suggests that BTC might have the 0.382 FIB level as the support line and have another round of accumulation for bouncing back to $30K or above.
Overall, the support levels for the world’s largest digital asset can be placed at $26K and
25K
, respectively. Conversely, resistance levels can be set at $28K and $30K.