Bitcoin Update:
BTC/USDT (4-hour chart)
• After the recent surge, Bitcoin is still moving in a stable range between $116,000 and $119,500, with a decline in acquisitions, giving the currency a chance to rise.
• The stability movement continues, as some sectors have not moved as strongly as others. Once the rise in all sectors ends, a correction may begin.
• Corrections during this period are fast and their rebounds are strong, so they should be exploited. Bitcoin's support areas at Fibonacci levels are:
$116,000
$113,600
$111,000
• The strongest support area is $111,000, so if any decision is made that affects the market, the first two support areas could easily be breached.
• The market will continue to be positive if the day closes above $119,500, at which point we will head towards the next target at $125,500.