Bitcoin Fibonacci Retracement 12H Interval
Friends, since 23Jan24 btc has retraced nearly 50% (from 73.8k to 57k-58k) in the 12H interval which also coincides with the EMA200. That said, RSI has also bottomed. The question is, has btc found the local bottom with sufficient support as we move forward into the re-accumulation period before we experience parabola? If support does not hold we will likely find concrete footing around 52k (61.8% Fibonacci). I am quietly confident that will be the absolute bottom before re-accumulation and parabola.
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