Nostr Web Client

Short-term bearish: #Bitcoin has broken below the 0.382 Fibonacci level ($93,163) and is nearing 0.5 Fib ($88,143) support. Further downside may target $83,124 (0.618 Fib).

Moving averages: Short-term MAs are turning bearish, but the 200-day MA ($64K) suggests a long-term uptrend is intact.

Volume: Selling pressure is increasing, confirming the downtrend.

Key levels: Support at $88K and $83K, resistance at $93K and $99K.

Overall: A short-term correction, but a bounce from key support levels could revive bullish momentum.

Darren Easton 10mo ago

Found key support, awaiting validation:

#Bitcoin

nostr:nevent1qvzqqqqqqypzq9j4fmpg2tk3lwlwjndujkxa7t3jetmmfct6n5rsp550rf55vgnrqyt8wumn8ghj7etyv4hzumn0wd68ytnvv9hxgtcp2amhxue69uhkv6tvw3jhytnwdaehgu3wwa5kuef0dec82c33wv6hjufkwaskgamj0pjx2drvdpn8xdfkvahrvdrgwaa826rwvesnvu3ed44rgdekwg6hxdrgdd6ku7n80fchyuekwymh5qgwwaehxw309ahx7uewd3hkctcqyqlg25pdm0w0tjlxrcq05296daysl72wpcmpvmrl4z4at8tl7envwh0qn5p

Reply to this note

Please Login to reply.

Discussion

Darren Easton 10mo ago

A confirmed buy entry is indicated by a bullish hammer candle closing above the 0.618 Fibonacci retracement level and the 200-day moving average (~$83K). This should be accompanied by a notable increase in buying volume, signalling institutional accumulation and strengthening the likelihood of a trend reversal.

Regardless, IMO this presents an excellent opportunity for cost-averaging investors looking to build long-term positions. NFA

nostr:nevent1qvzqqqqqqypzq9j4fmpg2tk3lwlwjndujkxa7t3jetmmfct6n5rsp550rf55vgnrqyt8wumn8ghj7etyv4hzumn0wd68ytnvv9hxgtcp2amhxue69uhkv6tvw3jhytnwdaehgu3wwa5kuef0dec82c33wv6hjufkwaskgamj0pjx2drvdpn8xdfkvahrvdrgwaa826rwvesnvu3ed44rgdekwg6hxdrgdd6ku7n80fchyuekwymh5qgwwaehxw309ahx7uewd3hkctcqype70edg2pn828vx0uc5dxjnrwjtgrk7u7hu8mkk3nuxrvtcdc9vsk43x3s