Perhaps the giant Bitcoin coins have seen encryption Large fluctuations,, Which caused its price to drop to 91,000 dollars after reaching the highest new level ever. However, the encryption analyst believes that Bull Run from BTC has not yet reached its climax, indicating an imminent step towards its highest new levels and market summit.
The highest market for bitcoin is above the level of $ 200,000
Bitcoin is struggling to restore the main resistance levels after withdrawing. Despite the sharp correction and market fluctuations outline Which – which BTC’s Bull Market The course is still strong in the long run.
The expert shared his point of view on the dynamics of the market in BTC as speculation about the assets that reach its climax in this session. Bitcoin’s general trend is still upward although the main support levels have been tested by short -term recovery, a brand that encourages another penetration in the coming months.
MAGS analysis depends on the critical Fibonacci accessories, which historically indicates a crowd and climax in the potential market. It should be noted that Fibonacci’s accessories play a vital role in determining The next possible resistance levels.
Increased volatility Perhaps the bullish momentum has hindered, but Mags expects that BTC will enter the short -term price. Once the main origin is to recover prices, the expert highlighted 3 distinct levels in Fibonacci on her upscale trip such as 1.618, 2.618 and 3.618.
Looking at the previous cycle trends, these Fibonacci extension levels can help measuring the next BTC assembly and determining the highest market for the ongoing cycle. As shown in the previous bull cycle, BTCOIN has reached its top in the extension of 3.618 Fibonacci before going to the bear market.
Meanwhile, BTC is rejected at the extension level of 1.618 FIB in the current session, which represents the first key resistance in its gathering towards its highest levels. Strong support and collapse above this level are expected to enhance more FIB extension points.
When this happens, Bitcoin It will rise to the next extension of 2.618, which is located on approximately 154,522 dollars, before moving forward to the last extension of 3.618 at about 207,701 dollars. Mags urge investors to monitor these levels when the price turns towards a positive direction again.
Is it the time to buy BTC?
Amid the increasing fluctuations, the market expert and dealer Daan Crypto, using its main indicators It was identified The perfect time to buy or sell BTC.
Using a MA Bitcoin multiplier tool for two years, the expert highlighted that when the price is traded less BTC. Meanwhile, when prices exceed a master’s degree in two years, it usually means that BTC has exceeded the peak.
Currently, the Bitcoin price in the middle of MA is for two years, and MA 5. According to the expert, this is not the right point for long -term purchases. However, it is not excessive as in previous sessions.
Distinctive image from Unsplash, Chart from TradingView.com
