actually , i'll add from the weekly chart as the monthly isnt of much use in terms of support levels other than fibo. Illustrated the monthly to show the nutty parabolic move
weekly;
two critical areas (the weekly chart ends Sat at 8pm) ;
$40,350 ish zone; this is the area where it rested for 5 weeks before breaking again to the upside (late 2020, early 2021), re-establishing above this is good
$29,000- $30,000; not surprisingly the tail of this bloodbath bounced off here.
so if it cant hold $40,350 then it may play inbetween those 2 above zones.
its high was approx $64000 ish, so obviously a deep retrace . Actually a retrace and HOLD of the .50 fibo $37,000)or .61 fibo i($31,000) s healthy , again parabolic moves arent stable and usually mean the rubber band can go the other way just as violently
weekly;
two critical areas (the weekly chart ends Sat at 8pm) ;
$40,350 ish zone; this is the area where it rested for 5 weeks before breaking again to the upside (late 2020, early 2021), re-establishing above this is good
$29,000- $30,000; not surprisingly the tail of this bloodbath bounced off here.
so if it cant hold $40,350 then it may play inbetween those 2 above zones.
its high was approx $64000 ish, so obviously a deep retrace . Actually a retrace and HOLD of the .50 fibo $37,000)or .61 fibo i($31,000) s healthy , again parabolic moves arent stable and usually mean the rubber band can go the other way just as violently
hno:
.....the 4 hour chart looks good, cuold run to $38
