Bitcoin Daily - Facing strong resistance now

20 мар. 2023 г.

As we can see from the chart, PA is coming to a point where it is going to get squeezed from a number of places
Still Stuck under the 2.618 Fib circle and with FED on Wed, we could see PA cool off for a bit BUT, this is BITCOIN, 24/7 trading, it may run up to that Long term Resistance.
If rejected from t here, a return to 25K is possible but that would be bullish, as it allows PA to recover some strength
If PA breaks through that line, then I would expect it to then test as support before continuing.

It is impossible to say whats about to happen but one thing I am sure of, the talk of the $1 Million BTC in 90 days is just STUPID. Don't get wrapped up in that. For me, near 40K is possible over the next few weeks IF and its a big IF, fundamentals work in favour. From there, we Will see whats happening

PA is Very overbought on lower timeframes, Daily is approaching that and FOMO may take it further but PA has to cool off at some point before it continues.
While Banks struggle, GOLD is Bitcoins on ly challenger for the title of SAFE HAVEN NUMBER ! but BTC does have a higher % of gain, and people are seeing this
Trade safe