Bitcoin Bearish On -50% Fibonacci sequence - Not Bottom Yet!
This is mostly for BTC swing traders, but has a global view value as well.
Money goes into gold and Silver when fearful, and cash when panic hits.
Money isn't sure were to go, and is selling speculations. How can the charts be interpreted at the moment? "WE Dumping" is the only certainty.
Zooming out to a daily chart, and looking at a -50% Fibonacci sequence. Above that is bullish and below bearish. We are flirting with a -50% downside and have already lost the daily 200ma. The 314ma can be a powerful MA to watch, and it's right about 50%. It's a possible bounce spot if the markets turn up (but be careful, fake outs to rekt retail traders might happen for days/weeks).
I think that until cash flows back into the market into Gold/Silver first, BTC will continue down to a 618 or 786 Fibonacci support and bounce. Or maybe just really dump...
Play this safe for a BTC Long Swing, I will keep updating.
This is mostly for BTC swing traders, but has a global view value as well.
Money goes into gold and Silver when fearful, and cash when panic hits.
Money isn't sure were to go, and is selling speculations. How can the charts be interpreted at the moment? "WE Dumping" is the only certainty.
Zooming out to a daily chart, and looking at a -50% Fibonacci sequence. Above that is bullish and below bearish. We are flirting with a -50% downside and have already lost the daily 200ma. The 314ma can be a powerful MA to watch, and it's right about 50%. It's a possible bounce spot if the markets turn up (but be careful, fake outs to rekt retail traders might happen for days/weeks).
I think that until cash flows back into the market into Gold/Silver first, BTC will continue down to a 618 or 786 Fibonacci support and bounce. Or maybe just really dump...
Play this safe for a BTC Long Swing, I will keep updating.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。