Bitcoin (BTC) charts on a two-day timeframe are showing signs that Bitcoin (BTC) is about to make a major move one way or the other.
Fib circle analysis on the two-day chart show Bitcoin (BTC) approaching the edge of useful circle construct and the 21-period moving average. The pivot zone is between $3,630 and $3,710 (Figure 1).
There is also a big Fib speed line near $3,784 (Figure 2), and there is a trendline coming off the $20,000 high that comes in near $3,775 (Figure 3).
Bottom Line: Looking $100 above or below $3,700, you can find technical pivots that matter. Bitcoin (BTC) may be in a countdown to make a big move. The Crypto.IQ Trading Desk is looking to prove that Bitcoin (BTC) can prove it can swim and overcome risk that it sinks.
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