Bitcoin BTC/USD Price Analysis
On Tuesday the 29th of January, the price of Bitcoin was $3430 at its lowest point. The price increased to $3553 at first and then fell down to $3477 which was a higher low compared to the ending point of the 3rd Minute wave ending point.
Click here to see the full-size image
This indicated a potential start of an uptrend but was in question when the price attempted to go past the prior high level and just bearly made it spiking up to $3581 but that spike only triggered selling and the price fell back to the prior support level at the 0.382 Fibonacci level and a breakout from the minor uptrend support line which is the support of the ascending channel in which the 4th Minute developed in a WXY manner.
Yesterday we have seen a breakout from the ascending channel which could very likely mean that the 4th wave has ended on the Minuette Y wave and that the last impulsive move to the downside has started. Now the price is in an upward trajectory which is most likely the 2nd Minuette wave of the 5th Minute one and is serving as a retest of the prior support for the resistance which is why the price has interacted with the ascending channels support and was rejected but it pushing the price back to the 0.382 Fibonacci level which is its key support since the price has fallen 4 times on it in a search for support after encountering the sellers pressure.
Sigue leyengo la noticia en
BitcoinExchangeGuide
https://bitcoinexchangeguide.com/bitcoin-btc-ethereum-eth-xrp-ripple-and-bch-top-coin-price-watch-feb-5th/