Bitcoin (BTC)Crypto News

Bitcoin: Short-term bullish rebound likely

Type: Bullish jump

Key levels: resistance: $ 50,880.12, Pivot: $ 46,949.92, Support: $ 44,666.16

Preferred case: is currently holding on to declining trendline resistance, suggesting an overall bearish momentum. However, we can expect the price to drop from the pivot level in accordance with the 61.8% Fibonacci-Projection towards the first resistance in accordance with 50% Fibonacci retracement and 100% Fibonacci projection ricochets. Our bullish bias is further supported by the RSI indicator which is showing a bullish divergence.

Alternative scenario: Alternatively, in line with the 78.6% Fibonacci forecast, the price could continue to decline to the 1st support.

Bitcoin: Short-term bullish rebound likely, Crypto Trading News

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Fusion media or anyone involved in Fusion Media assumes no liability for any loss or damage arising out of reliance on the information contained on this website including data, rates, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment.

Source: Crypto News Deutsch

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