Bitcoin trades nearly 15% higher as crypto sentiment turns positive on Thursday. There is a Fib confluence area close to the 8K level where the bulls could find trouble. BTC/USD daily chart Bitcoin has bounced today after the heavy price drop over the last few weeks. Just one month ago the price of Bitcoin rose to above 10K and now BTC/USD trades at 6,172.00 on Thursday afternoon. Despite this, the bulls have come to join the party once again and the halving event next month is projected to push up the price once again. Looking at the chart below you can see that the BTC/USD has been respecting the Fibonacci tools perfectly. This recent price drop fell exactly to the red 161.% extension to the point. Now there has been a retracement on the upside the 61.8% retracement and extension match up perfectly very close to the psychological 8K level. Prior to this move the major move lower followed the Elliott Wave principle very nicely and this makes me believe that Bitcoin follows the Fibonacci rules so keep an eye on the key Fib levels. Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Coronavirus update: 3,269 confirmed cases in UK, 3,405 fatalities in Italy FX Street 2 years Bitcoin trades nearly 15% higher as crypto sentiment turns positive on Thursday. There is a Fib confluence area close to the 8K level where the bulls could find trouble. BTC/USD daily chart Bitcoin has bounced today after the heavy price drop over the last few weeks. Just one month ago the price of Bitcoin rose to above 10K and now BTC/USD trades at 6,172.00 on Thursday afternoon. Despite this, the bulls have come to join the party once again and the halving event next month is projected to push up the price once again. Looking at the chart below you… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
