BTC risk of 25k bottom: 32.8k key support, 40.4k key resistance
25k looks like a good possibility for a "bottom".
Plotted are two fib series and their confluences.
Dashed lines ="Genesis Fib", solid = from the Top.
28.8 might have been a "Wyckoff Spring" bottom.
Many analysists this range as Accumulation zone.
Maybe the stab was indeed a Spring or Capitulation.
32.8 is now the critical support as bulls "last stand".
Recent attempt to break was thwarted, but just barely.
If broken, it could be a very quick trip (and wick) to 25k.
25k would make for a prefect psychological level to bottom.
20k is being watched by many many traders, perhaps too many.
29k was probably too shallow of a wick to take out enough longs.
BTC "Genesis Fib" with the most important levels:
Also see this "Post Crash Road Map" for key support/resistance
Plotted are two fib series and their confluences.
Dashed lines ="Genesis Fib", solid = from the Top.
28.8 might have been a "Wyckoff Spring" bottom.
Many analysists this range as Accumulation zone.
Maybe the stab was indeed a Spring or Capitulation.
32.8 is now the critical support as bulls "last stand".
Recent attempt to break was thwarted, but just barely.
If broken, it could be a very quick trip (and wick) to 25k.
25k would make for a prefect psychological level to bottom.
20k is being watched by many many traders, perhaps too many.
29k was probably too shallow of a wick to take out enough longs.
BTC "Genesis Fib" with the most important levels:
Also see this "Post Crash Road Map" for key support/resistance
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