Bitcoin Aims At $50,000 Next Target +Support & Resistance Levels

10 Feb 2022

Bitcoin has broken out of a strong descending channel on the 12H timeframe and is now aiming at $50,000.

This $50,000 target is supported by a break above EMA100 and EMA50 recently with good volume.

• This resistance level is set halfway thru the real body of the strong bearish candle on 3-Dec. 2021.
  
• We also have MA200 reaching this exact same level.
  
• The 0.5 Fib. retracement level for the bullish wave started after July's 2021 low also lands here.
  
• Finally, this 50k target also coincides with a Fib. extension level.
  

Multiple tools, signals and indicators are aiming at this range between $49,000 and $50,000+ as the next resistance.

$42820 is the short-term support on this setup.

This is not financial advice.


Namaste.