We just gone through a short dump of BTC. and I made an entry at the yellow line above (66513).
This is a Fibo based on the trend. In this chart it is good to make entry if btc closes a candle below the red line (0.236)
so I preferred to target the 0.786 which is the Blue line. Now, In the worst case BTC might dump to Fibo 1 (56000).
BTC crashed to 0.5 (62000) that was a flash crash (Red arrow) but slow and steadily it gained its price back but not strong enough for another ATH.
and BTC failed to make another HH as a result it got rejected below the red line (0.236).
2 times support (red arrows) which is fibo 0.5 (62000) gave no support this time and leaded to decline below 60k.
I will wait for the fibo 1 (56000).
and in case of a reversal indication I will share my Idea here.
Stay tuned guys!
Cheers!
This is a Fibo based on the trend. In this chart it is good to make entry if btc closes a candle below the red line (0.236)
so I preferred to target the 0.786 which is the Blue line. Now, In the worst case BTC might dump to Fibo 1 (56000).
BTC crashed to 0.5 (62000) that was a flash crash (Red arrow) but slow and steadily it gained its price back but not strong enough for another ATH.
and BTC failed to make another HH as a result it got rejected below the red line (0.236).
2 times support (red arrows) which is fibo 0.5 (62000) gave no support this time and leaded to decline below 60k.
I will wait for the fibo 1 (56000).
and in case of a reversal indication I will share my Idea here.
Stay tuned guys!
Cheers!