Bitcoin: Cycle Fibonacci Levels Target $48K
Bitcoin faces $48K retracement risk per historical 61.8% Fibonacci from 2010 lows, with current price at $64660.13 on 4h chart.
SourceAnalysis
Bitcoin could drop to $48K if prior cycles repeat, states Omkar Godbole as every bull market has retraced below the 61.8% Fibonacci level measured from 2010 lows to peak.
BTC price action at $64660.13 holds above EMA50 support of $64572.61 yet shows MACD death cross at 149.24 with neutral RSI 46.82, testing lower Bollinger band near $64704.96 and indicating room for further downside before any rebound.
Omkar Godbole, MMS Finance, CMT
@godbole17Staff of MMS Finance.
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