The price rebounded at the $37,500 horizontal support area after this and is currently in the process of reclaiming the 0.618 Fib retracement support level at $38,600.
Therefore, this is a crucial resistance level that could trigger a sharp upward move if BTC manages to break out.
Similar to both the weekly and daily time frames, there is a pronounced bullish divergence in the six-hour time frame.
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics.