Bitcoin is finding support at $52.1K, a Fibonacci level, but has not seen the momentum that we were hoping for. The next major level is $52.8K, and it looks like we are facing some significant resistance here. The next level after that is $54.3K. it will take some momentum to punch through these. The Kovach momentum has turned south suggesting that we will range or may see another blast of bear momentum. If so, watch for $50K to provide support as this is a significant psychological level. Also, just below that, we have $49.8K, which is a Fibonacci level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.