BITCOIN Held key Cycle Support, preparing a mega break-out!

Bitcoin (BTCUSD) is rebounding off the 0.5 Fibonnaci Lower Lows trend-line that provided Support numerous times during the previous Cycle but when it finally closed a 1W candle below it (June 06 2022) it started the final bearish sequence.

Currently this is very positive for the upside’s chances and if BTC manages to close a 1W candle above the 0 Fib, we can see the final two bullish waes to 36000 and 43000. At the same time, the Higher Lows trend-line since the market bottom is holding, while the 1W MA50 (blue trend-line) hasn’t been re-tested in a month and a half.

Do you think that hold on the 0.5 Fib was the key and we are off to the races again? Feel free to let us know in the comments section below!

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