Technical analysis of BTC/USD 05/12/2023

Bitcoin found resistance at 31,000, after which it corrected to the support level of 27,000 (23.6% Fibo).

At the moment, the price is testing the 27,000 level zone (23.6% Fibo) and is consolidating in the 26,700 area.

The technical picture suggests a possible development of a downward correction towards the support level of 23,000 (50% Fibo).

Intermediate support is the level of 25,000 (38.2% Fibo).

Cancellation of the option for the development of a downward correction will be the growth of quotations above the high of 31,000, which will mean the continuation of the uptrend.


Created by Joshua Hayn

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