The biggest crypto currency Bitcoin (BTC) $84,933.38In a critical turn with signals in technical indicators. According to analysts, Stochastic RSI has triggered harsh rise in the price of every throat for three years. Bitcoin, which is now on the verge of a similar signal, also tests the level of withdrawal of 38.2 percent Fibonacci. This level served as a jumpboard in the past bull markets. Moreover Cumulative Value Days Destroyed According to the (CVDD) model, the level of $ 84 thousand 640 stands out as an important support for a new bottom formation.
Technical indicators and Fibonacci level in Bitcoin
Bitcoin’s Stochastic RSI A throat intersection that may occur in the indicator raises the possibility of a sudden recovery in the price. Analyst Ali MartinezAccording to the data of this signal in the last three years, every emergence of this signal has resulted in an increase of at least 40 percent. Bitcoin is currently around 80 thousand dollars, 38.2 percent in 3 -day price graphics Fibonacci The level of the level (79 thousand 702 dollars) may maintain the bull trend if it does not close below this level.
Fibonacci levels especially Taurus MarketsIt is accepted as critical support points. In 2021, 38.2 percent of the Fibonacci level, Bitcoin’in $ 30,000 to $ 69 thousand dollars, the rally had a role. If a similar scenario is repeated, new peaks of over $ 80 may be seen. However, below this level may increase the risk of decreasing up to 50 thousand dollars.
On a single screen instant prices, important data, news, latest developments, comments and discussions at Chat! Come right away from your eyes!
Important support levels in Bitcoin according to the CVDD model
Cvdd The model has so far been effective in determining Bitcoin’s historical bottom points. CVDD × 2,618 level $ 84 thousand 640 dollars is an important reference for current price movements. BTC’s maintenance of this level in a weekly and even monthly time period can create a local bottom and start a new wave of rise.
However, with the permanent price of 84 thousand 640 dollars, the possibility of a fall to 64 thousand 700 dollars (April 2021 April) and even 60 thousand dollars may come up. Historical data is the largest after such corrections. crypto currencyshows that it can be recovered. For example, BTC, which fell to 17 thousand 600 dollars in 2022, reached up to 44 thousand dollars in 2023. For this reason, short -term decreases are not considered to have ended the long -term bull trend yet.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
