After recent breakdown in btc we reached a critical level of 0.786 fib which is the major bullish reversal level.
However,we can drop to another support level at 0.886 at 2500$ ..
One weekly I Can see big bearish pennant right now. If BTC doesnt bounce from here then total capitulation will happen and btc would reach 2500$ which will be the bearish pennant pole target and 0.886 level,and market will be finally capitulated with bloods on street everywhere.
In weekly RSI we have still not bottomed here..so that can go still lower and btc can break down further.
But but....we can reverse from current critical level..So,watch bitcoin right now and wait for any new buys and dont buy btc until reversal confirmation..If we consolidate on this price right now then this the bottom in bitcoin or else we can go further down to 2200-2500$.
All the best ..stay safe.
However,we can drop to another support level at 0.886 at 2500$ ..
One weekly I Can see big bearish pennant right now. If BTC doesnt bounce from here then total capitulation will happen and btc would reach 2500$ which will be the bearish pennant pole target and 0.886 level,and market will be finally capitulated with bloods on street everywhere.
In weekly RSI we have still not bottomed here..so that can go still lower and btc can break down further.
But but....we can reverse from current critical level..So,watch bitcoin right now and wait for any new buys and dont buy btc until reversal confirmation..If we consolidate on this price right now then this the bottom in bitcoin or else we can go further down to 2200-2500$.
All the best ..stay safe.
Trade Setups for altcoins & bitcoin in discord private group.
discord.gg/rHQCMtNNZs
discord.gg/rHQCMtNNZs
