Hey guys, here is the Daily timeframe update on Bitcoin chart. If you like this chart, please use Like button 💙💛
I really like to see bullish outcome for Bitcoin, and to get it as higher as possible this year. But take a look at positions of the Moving averages on the chart: I am using combo of Daily moving averages 500 and 620, this is rarely used MAs, but they works nice on Bitcoin, and shows crucial support bound near $36,000. If we going to see breakout from $36,000 *DMA620 — price will likely to move down to $30,000.
In case breakout from $30,000 it will cause domino effect and price will fall at least down to $22,000 to Weekly Moving Average 200 (WMA200). This is strong support line for Bitcoin all-time history.
In case Bulls can fight for $46,000 + region, we going to see move upwards to Supply zone of $50,000-56,000 where another (3rd) large sell-off can occur. But anyway, this is Plan B for Bitcoin durin Q2 of 2022.
30k is a good support to direct price to 90k, dont think we go to 20k..
ArShevelev
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@santana2331, I would like to see same movement :)
suvny21
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@ArShevelev, damn, combining elliott waves with fibonacci levels shows target range 350-530k. i think if federal reserve want to kill this industry may we don't see these numbers.. only time will tell!
ArShevelev
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@santana2331, if I will se confirmation of this thing I will notify:) so far I am neutral/semi bearish on btc and crypto