I like seeing this sorta weird pattern, i also throw fibs on this kind of stuff to see what happens, often the result is interesting.
shared this today in dj thistles room, figure ill share it here now
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hoep this was bottom
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I think now we are forming what looks to most like an odd h&s formation. For different reasons I dont think that will play our and instead we will go sideways, and up. I am bias as I am in alts. The recent alts moving tell me players are putting liquidity in them and faith is starting to restore in btc. Being very cautious at this point tho, as double bottom/new lows can still happen if we do break down ~3500.
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4300 should be acting as resistance for now, when it becomes support going to be great. for now i hope for retrace and alts continue to pump a bit.
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well, i dont care if it retraces or not, but breaking 4300 for fomo may cause some alts to suffer. may.
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4350 acting as resistance here, vol profile also hits a high level there, new month now so may get some MM painting going on.
@mozartc, its just fibs on previous structure compared to both, direction break could end up being same, in this case at least the dump stopped for a momment in this area, if btce comes back i will liekly buy in this zone