Bitcoin has been in a range for a while now and essentially flat for the last month. With the recent 1M TD9 count, it risks going into an extended downward count if the local range highs aren't re-visited soon. Currently finding support at a major fibonacci retrace level of 0.786 which interestingly enough is also the VWAP of bitcoin in coinbase's history of trading it. The MACD is starting to show sings of shifting though it is too early to tell if it will be of any impact. The stochastic RSI is at levels comparable to the 2019 level which is something to note. Volume has been creeping higher at these price levels which might suggest some volatility to come in the near future in deciding the fate of the range. The nearest 1M demand zone is at $12,000. All subsequent areas of interest are marked on the chart above. 1M supply zone begins at $38,000.
This is not financial advice.
This is not financial advice.