Good morning all,
this is my take on BTC as it stands today and why i am seeing it go to 6.4K. It's not any pessimistic analysis, it's just what i see in patterns and numbers, pure analysis.
Looking at the 1D chart and doing a Fib retracement we can see that it jumps from level to level. It came from the last 6,4K at .786 and bounced there, did a double top at 0.5 with a bounce in between at .618 and now this didn't hold as support and it's mid levels on a downtrend. So, from my perspective it will go to 6.4K and possible bounce coming back strong.
Now, and this is something i was meddling with, while we are stuck between .618 and .786 i did a new fib retracement with these 2 points and we get new support and resistance levels that you can use to your advantage if you wish so.
As always do your own research, this is not an advice, just an opinion.
Thanks
this is my take on BTC as it stands today and why i am seeing it go to 6.4K. It's not any pessimistic analysis, it's just what i see in patterns and numbers, pure analysis.
Looking at the 1D chart and doing a Fib retracement we can see that it jumps from level to level. It came from the last 6,4K at .786 and bounced there, did a double top at 0.5 with a bounce in between at .618 and now this didn't hold as support and it's mid levels on a downtrend. So, from my perspective it will go to 6.4K and possible bounce coming back strong.
Now, and this is something i was meddling with, while we are stuck between .618 and .786 i did a new fib retracement with these 2 points and we get new support and resistance levels that you can use to your advantage if you wish so.
As always do your own research, this is not an advice, just an opinion.
Thanks