Bitcoin: Short-term Bullish Bounce Likely

Kind: Bullish bounce

Key Ranges: Resistance: $50,880.12, pivot: $46,949.92, help: $44,666.16

Most popular Case: is at the moment abiding by the descending trendline resistance, signifying general bearish momentum. Nonetheless, we are able to count on the worth to bounce from the pivot stage according to 61.8% Fibonacci projection in the direction of 1st resistance according to 50% Fibonacci retracement and 100% Fibonacci projection. Our bullish bias is additional supported by the RSI indicator, the place a bullish divergence is recognized.

Various State of affairs: Alternatively, the worth may push additional right down to the first Help according to the 78.6% Fibonacci projection.

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