The descending channel has been acting as resistance and support successfully this Week End and we have now headed to the 0.618 Fib on the 4h chart , for now it is holding.
RR ratios for longs and shorts are not ideal for the moment so we will hold for a while.
Important level to watch closely is the 0.618 Fib which is equivalent to around 41k. The orderbook is also very heavy on the $41k level, expecting a slight rebound but having a bearish bias.
The daily is still looking good and this drop could confirm a channel.
RR ratios for longs and shorts are not ideal for the moment so we will hold for a while.
Important level to watch closely is the 0.618 Fib which is equivalent to around 41k. The orderbook is also very heavy on the $41k level, expecting a slight rebound but having a bearish bias.
The daily is still looking good and this drop could confirm a channel.
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