After reaching an all-time high (ATH) last week, Bitcoin is currently positioned at a pivotal $105,484 at the .23 level according to the Fibonacci trend. It has retraced to previous highs around $105,000 to $106,000. Recently, it bounced off the support level of approximately $102,740 on the 4-hour and daily charts and seems to be forming higher lows. I believe we could see a confluence play that aligns with the previous price action that led to the ATH.
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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.