, 2023-01-25 03:44:03,
Bitcoin’s price dropped marginally despite BTC dominance rising on Tuesday and when traders settled-up for the day, BTC was -$283.7.
We’re beginning the new day with analysis of the BTC/USD 1D chart by Freedom_CN. At the time of writing, BTC’s price is trading between the 0.618 fibonacci level [$21,690.14] and the 0.786 fib level [$23,378.60].
BTC’s price has marked-up in value more than 36% over the last 30 days and bullish traders now want to eclipse the 0.786 fib level to continue their climb.
Above that level bulls have their sights set on 0.886 [$24,383.64], 1 [$25,529.38], 1.13 [$26,835.93], 1.272 [$28,263.09], 1.414 [$29,690.24], and the 1.5 fib level [$30,554.58].
Looking through a bearish lens those traders want to again push BTC’s price below the 0.618 fibonacci level with a secondary aim of 0.5 [$20,504.19].
If they succeed in cracking the 0.5 fibonacci level the next target to the downside for bears is the 0.382 fib level [$19,318.25]. Of course, to reach the 0.382 fib they’ll need to break the most critical level of inflection in existence on BTC’s chart [$19,891].
The Fear and Greed Index is 51 Neutral and is -1 from Tuesday’s reading of 52 Neutral.
Bitcoin’s Moving Averages: 5-Day [$21,985.45], 20-Day [$18,846.36], 50-Day [$17,626.32],…
To read the original article from news.google.com Click here