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24 February 2021

Bitcoin price must now hold above these levels to break $60K

Bitcoin price must now hold above these levels to break $60K


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Such news is fueling the price of Bitcoin while Elon Musk has also embraced the latest "laser eye" meme to the joy of hodlers who are itching for a $100,000 BTC price.

During the recent rally, the first Fibonacci level at 1.618 was reached.

If that sustains support, there’s a high chance Bitcoin’s price will reach that level next.

However, after breaking the all-time high of 2017, the next level of interest was the $1.2 trillion level, which is also the 1.618 Fibonacci area.

If that’s lost, there’s a gap to the next area of support, which means that a breakdown to the $50,000 level can then be expected.

However, as long as $55,000 is held, there isn't much that is holding Bitcoin’s price from reaching the next Fibonacci level at $63,000.

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