BTC – Fighting for Weekly Close

Bitcoin is reversing after touching an All-Time High of $69,000 on November 10, 2021, and the price is consolidating above $62,000, preparing for another move towards  resistance.

On a lower time frame, a 1-hour chart shows Bitcoin is making local support at EMA 200, standing right at the entry point and the first target above is at fib -0.236 near $66319. For the uptrend to remain intact, downside should be limited at fib 0.5 at $63854, below EMA 200. The second resistance level above should be at $67308 near fib -0.618. The weekend is approaching and both Bulls and Bears will try hard to close the weekly candle in their favor.