Bitcoin. signal by cryptowolf

#BTC
The resulting hairpin from the day's candle, which we see on the chart above, seems to have led the market to a possible bottom and now we are seeing the formation of a rebound. In all major timeframes Bitcoin is too oversold and further reduction is unlikely, only in case of some consolidation at this level and the appearance of another hairpin (which in the worst case will hit 8500). The logical behavior of the market will be a return to the 11500 area and testing of the entrance to the cloud limits (this level acts as a dense resistance), its overcoming will enable us to go higher and not consider a further scenario of decline. If we are not able to overcome this level now, the resistance of Fib 0.236 (which corresponds to a price of about 8500) will reflect a further decline and send the price again to test the lower limit of the cloud 11500. During such market drains do not panic and leave the trade at low cost. If you consider Bitcoin, then this asset is best kept under any circumstances, because in the long term there are no reasons indicating the cancellation of the scenario of a protracted upward movement.