Bitcoin Price Key Highlights
- Bitcoin cost appears to be starting a new trend on a short-term time frames, as an descending trend line can be drawn to bond a new lows of cost action.
- Technical indicators are also hinting during a start of a short-term uptrend, with a relocating averages looking primary for an ceiling crossover.
- Using a Fibonacci retracement apparatus on a latest pitch high and low reveals a intensity support zones.
Bitcoin cost could be starting a new uptrend though it needs to find support during a circuitously Fib levels before confirming this climb.
Short-Term Support Areas
As we can see from a draft below, a 50%-61.8% Fibonacci retracement levels are closest in line to a rising trend line around a $390-400 bitcoin cost levels. This is also nearby a relocating averages, that tend to act as energetic rhythm points.
The relocating averages are circumference closer together, with a 100 SMA looking prepared to make an ceiling crossover to prove that a trail of slightest insurgency is to a upside. In that case, bitcoin cost could rebound adult to a latest highs around $420 or mangle above that.