BTC rejected at 37K Fib retracement. What next?
It seems BTC got rejected at 37K Fib retracement (Current Price 33K) and now looks like falling back to it's lows. The weekly candle will close around 8pm Eastern Time today.
BTC might consolidate to it's lower 30's (if bear momentum continues). It needs to hold above the 37-38K to get support and continue upward.
I personally will not invest anything now and observe the movements in the next couple of days (I might start doing DCA after price stabilizes).
Please Note: The analysis is based on my own views and it should not be treated as financial advice.
Feel free to share your own opinions/comments. Also hit like and follow me for future updates!
Best,
Adit Doza
Part-time Faculty
Mike Ilitch School of Business
BTC might consolidate to it's lower 30's (if bear momentum continues). It needs to hold above the 37-38K to get support and continue upward.
I personally will not invest anything now and observe the movements in the next couple of days (I might start doing DCA after price stabilizes).
Please Note: The analysis is based on my own views and it should not be treated as financial advice.
Feel free to share your own opinions/comments. Also hit like and follow me for future updates!
Best,
Adit Doza
Part-time Faculty
Mike Ilitch School of Business
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