What does Fibo say?




Bitcoin has started an upward movement in the last 24 hours after it behaved exactly according to the previous analysis and reached the mentioned support. After the price stopped below the resistance range of 19,445 to 19,600 dollars, it entered a short-term range trend and in the last hour, increasing buying pressure broke the resistance and moved towards higher targets. A reaction now accompanies the resistance of the $20,500 range, and the $20,800 resistance has been the largest trading volume of the past few weeks, and the price can be stopped in this range for several hours.

In the time frame of 1 hour and 4 hours, the price trend has increased, and if the price is corrected, we can expect Bitcoin to grow to $20,800. Bitcoin has now hit resistance at the exact $20,650 range and a minor reaction has been seen. There is a possibility of more response to this area. If no sharp reversal is seen, there is potential to break the resistance ahead and move towards the $21,900 target.