#BTC ANALYSIS ‼️FIBONACCI RETRACTION
BTC's latest jump hit the famous 0.618 Fibonacci retracement level... A beautiful sign that the rise may be starting.
For those who are NEWBIES... The 0.618 Fibonacci is also known as the "golden level" or "golden ratio", and is one of the most significant in technical analysis. When the price of an asset reaches this level after a significant upward or downward movement, it will often find support (if it is falling) or resistance (if it is rising).
And I say more! BTC is looking to break through the 50-day exponential moving average (EMA) again. If it succeeds, hold on tight, we'll go back to $100,000 again and go 🚀.
But it's not just the chart that's playing in its favor. Spot trading volume has exploded, surpassing $60 billion in the last 24 hours. Wow!
So, is this jump just the beginning of something much bigger? SO BE IT 🙌🏽
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