Bitcoin Trading At A Key Fibonacci Level On The Daily. Time For A Reversal?

9:44 am, Sat, 14 May 22

Current Bitcoin Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y

The Bitcoin price is down more than -60% from its ATHs, dragging the whole crypto market down with it.

This massive sell-off has been led by a series of global events that have not only affected the crypto market but have also spilled into other market classes all across the world.

However, we are beginning to see signs of hope for Bitcoin! The bulls are gradually fighting back to reclaim the market trend and push prices higher in the coming days.

And right now, Bitcoin might just be in the best position to make that bullish surge back up as the price is trading at a key Fibonacci reversal zone in the daily timeframe!

Bitcoin Trading At A Key Fibonacci Level On The Daily. Time For A Reversal?
Bitcoin Trading At A Key Fibonacci Level On The Daily. Time For A Reversal?

In this Bitcoin analysis, we will be breaking down how important this 61.8% Fibonacci Reversal Zone is to the Bitcoin price and how this level could change everything for us and push us back into bullish territory in the coming days.

To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Deposit Bonus Campaign is now live! First-time depositors can get up to a $4,100 Bonus when you sign-up and fund your Bybit account with our Bybit link.

Claim up to $4450 in Bonus

100x Leverage

The Bitcoin 61.8% Fibonacci Reversal Zone

Bitcoin Trading At A Key Fibonacci Level On The Daily. Time For A Reversal?
Bitcoin Trading At A Key Fibonacci Level On The Daily. Time For A Reversal? Watch this $25,480 key support

The Fibonacci retracement tool has been used for ages now by professional traders to spot key reversal levels in a trend. And the 61.8% Fibonacci level is one of the strongest of these fib zones.

Right now, Bitcoin is trading around this level and holding strong. If this 61.8% fib reversal zone continues to hold, there is a very high probability that we might see a bullish bounce in the Bitcoin price in the coming days.

This price bounce could easily take us back to the $48,225 previous highs in the daily timeframe.

Bitcoin Trading At A Key Fibonacci Level On The Daily. Time For A Reversal? Watch this $25,480 key support
Bitcoin Trading At A Key Fibonacci Level On The Daily. Time For A Reversal? Watch this $25,480 key support

What Must Happen For This Bullish Prediction To Remain Valid?

For this Bitcoin bullish prediction to remain valid, the Bitcoin price must continue to respect and stay above this 61.8% Fibonacci zone in the daily timeframe.

If the BTC price stays above this $25,480 key support level, there is a very high probability we might see this bullish bounce play out in the coming days.

Claim up to $4450 in Bonus

100x Leverage

Easy Steps From Beginner To Pro Crypto Trader

You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.

PrimeXBT Covesting: Trade Hassel Free

Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

Recommended Bitcoin Trading Platforms:
★★★★★
★★★★★

Rating: 94%

Claim up to $4450 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 89%

Claim up to $4100 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 91%

Claim up to $7000 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.050%
Maker:
0.050%
Wire:
Credit:
Crypto: