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BITCOIN
The rise to the area of the weekly medium-term trend (46,960) took place. Bitcoin indicated a slowdown in the zone of attraction and influence of the level encountered the day before and even showed some corrective decline. At the moment, the bulls have almost restored the positions they have achieved. This behavior increases not only the desire to retest the level, but also increases the chances of overcoming it. We are closing the week today, and the result is important. The short upper shadow on the weekly candle is desirable for the bulls. The breakdown of the weekly medium-term trend (46,960) will open the way to the next upward targets at 5,1163 (weekly Fibo Kijun) - 49,230 - 51,161 (daily target for the breakdown of the cloud). The nearest consolidation of supports can now be noted at 42,758 - 41,165 (monthly levels + weekly Fibo Kijun + daily Tenkan).
On the lower timeframes, we can say that the bulls are currently in control of the situation since they managed to restore their positions and consolidate above the key levels - 44,770 (the central pivot point) and 45,142 (the weekly long-term trend). The targets for the continuation of the upward trend today are at 47,390 (R2) and 48,475 (R3). In case of loss of key supports (44,770 - 45,142), attention within the day will return to the supports of the classic pivot points, which are now located at 43,236 - 42,151 - 40,616.
***
In the technical analysis of the situation, the following are used:
higher timeframes - Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels
H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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