The recent has given a strong confidence in crypto investment. Bitcoin has managed to break the 60k level and felled back again below 60k level
Currently it was trading below the 59k level.At this level we can see a consolidation phase for the past 3 days soon we can expect a breakout here.
I have identified one triangle formation here which is a clear sign of upcoming breakout on either side.On downside 50% Fibonacci will hold BTC in remain in territory while writing this analysis
the price is just above the 61.8% Fibonacci level this will also provide support for .
The 50,100,200 Exponential moving averages was acting as support for bull. is still green and proving cloud support. was slowly constricting a but which is a sign of either side breakout.
is well above 50 level, is still green and the band was minor only. has reached around 75(short term fall was expected)
drawn from 11/03/2021 will act as dynamic for both the bull and bear. 54K was acted as clear support for bull twice. We can buy while retracing towards
50.00% Fibonacci if we missed this chance we can also buy after clear break and retest. The possible upper side target was 64k .
Buy @ 57500.00
Take profit @ 64000.00
Stop lose @ 57750.00