BTC/USD - struggling to break some Fib levels out
Just my little observation considering some Fib levels :
As can be seemed, BTC met resistance in 0.236 of Fib channel of the whole trend and in 3.618 of Fib circles of the last local.
Do not think, that it is heavy levels to break out, but BTC needs to overcome them now to avoid local downtrend.
But even if we get some little retracement, assume that price won't drop of this zone out :
BTC has nice support in 44k and also 200MA has been retested.
In general, think price needs some time to accumulate in that zone of 44k-50k before break out.
As can be seemed, BTC met resistance in 0.236 of Fib channel of the whole trend and in 3.618 of Fib circles of the last local.
Do not think, that it is heavy levels to break out, but BTC needs to overcome them now to avoid local downtrend.
But even if we get some little retracement, assume that price won't drop of this zone out :
BTC has nice support in 44k and also 200MA has been retested.
In general, think price needs some time to accumulate in that zone of 44k-50k before break out.
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