🎅 Global market update.
On a 1-month chart, we can clearly see that if the corrective fall continues, we will move to Fibo level 0.786 (level 4800$), which can be considered as the main goal of the whole movements of the market.
On a 12-hours chart, may form another wave of downward movement. If in the coming days the market can not overcome the red area (resistance), then there is a high probability to go to test the support level 5900$. In case we break this level - we will have an open road to test 4800$.
Some short-term thoughts: If Bitcoin will be able to keep above 6700$, then there will be a chance for a growth to the resistance at 7300$. At the moment there is opportunity to touch the 6900$ mark, only after we break it - we can go about further growth.
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Thank you for your update!
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