InvestMate|Bitcoin Support Zone Defended Fasten Your Belts ₿

₿ Bitcoin Support Zone Defended Fasten Your Belts

₿ As I wrote recently on Bitcoin's future breakout:

₿ As you can see, Bitcoin is holding the support zone brilliantly and eager negative sentiment is unable to break it.

₿ I think we may see some sort of breakout in a northerly direction in the near future.

₿ I determined the support zone based on a cluster of three fibo levels. The first is the 0.236 level of the entire upward wave from the bottom. The second is the 0.382 level of the entire upward wave from the bottom. The third is the outer fibo level of 1.272 of the entire downward wave from the 2019 peak to the covid bottom.

₿ The nearest resistance zone is between 17.6-18k and is determined by a cluster of two fibo levels. The first is 0.786 of the entire upward wave from the covid bottom to the 2011 peak. The second level is 0.886 of the entire downward wave from the 2017 peak to the 2018 bottom.

₿ If we do not break through the support zone the path to the resistance zone remains open.

₿ The scenario I'm playing out is an upward breakout and a continuation of the rise to the vicinity of the resistance zone, where I'll be watching to see how the price reacts and whether Bitcoin has the desire to rise even higher. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

₿ *Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.

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