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What’s next for Bitcoin – $56k or $16k? – FX Empire
If you love Cryptos or not, don't miss out on the opportunities that are setting up in the broader, global market and stock sector ETFs with our BAN strategy.
Lets take a look at what a Breakout/Rally technical setup in Bitcoin would look like in the near future. Looking at the chart below, price must hold above critical support near $27,800 as any new lower low would constitute a continuation of the Bearish downtrend. Therefore, any renewed rally attempt would likely initiate from levels near $28k (or just below this level).
Using a Fibonacci Price Extension, we can see the $46,280 (0.618) and the $56,190 (1.0) Fibonacci Extension levels are key potential…
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