and rejected it is.
Discussion
we're going to see a lot of these rejections in the following months I believe, #Bitcoin is long overdue for a correction
100% agree and even a pullback to 31k would be still healthy. After one of the most bullish bear markets I've ever seen in '23. We've been following this chart for an entire year and it keeps playing over and over again like a textbook.
We came up today to test the FIB for resistance and just happens that the 25M, the trendline and the RSI hit that spot and we got instantly rejected. 36k is definitely on the table followed by 31k which should show huge support and will probably take us into the halving.
Yeah 30k revisit is healthy, although I feel like a slight shake out below it is also on the menu, much volatility could occurs just about/post halving, and of course its all speculation.
Sub 31k would surprise me as it was the high for the entire last year but yes, anything is possible. A few years ago something like the recent Binance news and their fine would have flash crashed BTC 30-50%. All we got was a 5% dip lol.
And yes, it's all game theory. I wouldn't call a price. All I see, right now, is that 40k is showing strong resistance across the board of indicators. 38k being perceived support just because it was a previous high and from there 31k because it's the 0.5 FIB (for me, on the 4h).
If that comes true has to be seen. However, imo we have to retake 40k AND establish support above it, before we can even consider a trend change.
thoughts?
note1ll5jlm9zg26m7t2ahgml8qk2aw5j4e63hj45vmv9csxx6lw3jwqqmyf8s9
looks good. today should be interesting. I'm seeing the MA's trying to do a crossover on the 4h. If we can retake the 40k FIB, and find that support above it, this good be a nice start into the weekend. I guess the next hours will tell us more.
nostr:note1ll5jlm9zg26m7t2ahgml8qk2aw5j4e63hj45vmv9csxx6lw3jwqqmyf8s9