BTC is on a strong resistance line which comes from 11 november 2021 which was the date bull market finished.
BTC price respected this line 4 time before and could not pass this resistance , now it is the fifth time BTC trying to break this line but it is struggling obviously.
It seems that BTC will withdraw to lower areas and will try to break this resistance later on one more time.
24730usdt area is also the 0.236 of the Fibonacci retracement level of 47500usdt which was the peak price before down trend started at the end of march.
And BTC couldnt break this fibo. 0.236 level to upside and was rejected during its down trend .
Purpose of this post is educational and it is not an investment advice.
BTC price respected this line 4 time before and could not pass this resistance , now it is the fifth time BTC trying to break this line but it is struggling obviously.
It seems that BTC will withdraw to lower areas and will try to break this resistance later on one more time.
24730usdt area is also the 0.236 of the Fibonacci retracement level of 47500usdt which was the peak price before down trend started at the end of march.
And BTC couldnt break this fibo. 0.236 level to upside and was rejected during its down trend .
Purpose of this post is educational and it is not an investment advice.