Bitcoin prices are currently trading within a confluent zone, formed by key Fibonacci levels of the 2020 – 2021 move.
Since reaching a fresh all-time high in November, BTC/USD has steadily declined before rebounding off of the $33,000 mark, currently holding as channel support.
As discussed in Friday’s article, the release of a positive NFP (non-farm payroll) report allowed bears to temporarily drive prices lower before bulls retaliated, driving price action back above $40,000, currently providing support for the imminent move.
