BTCUSD Levels of strong local supportsHeavy pump is to be expected if last resistance zone breaks
STRONG SUPPORT:
1- 0.786% FIB LEVEL
2- 200MA SUPPORT
If it breaks Support levels of 40k, it will be in a stagnation phase for awhile
Bitcoin is downtrending once again and if these local support levels break, we can expect dump here to range of 32-40K support that is the last daily/monthly support left and if 40K support breaks Bitcoin will be in an extended stagnation phase due to Omicron
But as we can see price is near strong local support and technically price can pivot here or at least more pulsations within these local ranges here is to be expected.
Main support zones are now:
1- 0.786% FIB LEVEL
2- Local support that was retested broke previous trendlines (light neon blue zones on the chart).
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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.