Bitcoin is trending higher on the 1-hour chart as it moves above a rising trend line connecting the lows since late last month. Price popped up to the $10,500 mark earlier on and is in the middle of a correction.
Applying the Fibonacci retracement tool on the latest swing low and high shows that the 61.8% retracement level lines up with the trend line support around the $10,000 major psychological handle. Price appears to be finding support at the 50% Fib already, though.
The 200 SMA lines…
- 77https://www.youtube.com/watch?v=wku6MGYDuPE BTC, ETH/ Technical analysis price forecast 29 jan Hello! I make Bitcoin, XRP (Ripple) & other crypto technical analysis price predictions based on charts.
- 61Bitcoin is still in correction mode after recently hitting resistance around $10,200. Applying the Fibonacci retracement tool shows where more buyers are waiting to hop in. The price is testing the 38.2% Fibonacci retracement level around $9,800 but could be due for a deeper pullback to the 50% Fib at…