As it can be noticed from the 8H timeframe chart of BITCOIN, the price has broken out of the ascending channel illustrated on the graph and is now in the process of pulling back to re-test the penetrated key zone that lines up with the 0.618 Fibonacci retracement level.
Multiple confluences are showing that the sentiment of this security is expected to remain bearish. Thus, we will be looking forward towards executing SELL orders and aiming for the area plotted on the chart.
Happy trading to everyone!
Multiple confluences are showing that the sentiment of this security is expected to remain bearish. Thus, we will be looking forward towards executing SELL orders and aiming for the area plotted on the chart.
Happy trading to everyone!
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