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Bitcoin Analysis May 25

 


The levels of 29701 have become the lowest level that Bitcoin has reached under the impact of the blows it was exposed to during the last period, but it managed to rise above 23.6% Fibonacci to levels around 39000 before retreating a little, but it is still above 23.6% Fibonacci, if the recent rally is just a corrective wave For the sharp decline that Bitcoin suffered from, a drop below 23.6% will be inevitable, but what we can rely on in the case of buying is the stability of 29700 levels as a strong demand area during the sharp downturn that it was exposed to.

Stability in trading above 23.6% Fibonacci retracement, then rising above 38.2% Fibonacci will end the downtrend and re-target 61.8% Fibonacci 48135 in the short term

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Bitcoin Analysis May 25 Bitcoin Analysis May 25 Reviewed by DR HISHAM M YOUNES on May 24, 2021 Rating: 5

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