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  • Bitcoin trades 4% higher as sentiment turns positive on Thursday.
  • Bitcoin is respecting the Fibonacci theories very well at the moment and it is displayed in the chart.

BTC/USD 1-Hour Chart

The market sentiment to a turn for the good today.

Bitcoin has pushed higher against the dollar which is struggling in the FX world too.

On the chart below, the price found resistance at the 1.618% extension which matched up with the 50% retracement.

On the daily chart, 9,280.98 is a resistance level to keep an eye on too.

The price is still technically in a downtrend on the higher timeframes but on the hourly, there is some promise as the waves are making higher lows and higher highs.

Bitcoin Fibonacci

Additional Levels