The BTC Critical Zone
Updated
Bitcoin has been recently struggling after breaking through several crucial support zones.
There is a single make it / break it zone I will be watching on the related BITX ETF which results in the overall CC golden pocket from the low of the move to the high pivot.
A rejection here may increase probabilities of a further downside drop. A reclaim of the level would give me further confidence on a long trade higher.
Lets see how it plays out.
There is a single make it / break it zone I will be watching on the related BITX ETF which results in the overall CC golden pocket from the low of the move to the high pivot.
A rejection here may increase probabilities of a further downside drop. A reclaim of the level would give me further confidence on a long trade higher.
Lets see how it plays out.
Note
The short Bitcoin etf seems to be forming a bearish hamonic pattern. Although the ficonacci numbers are not quite exact, it is a move into the POC , followed by a swing failure pattern are the top of the range. BITX at critical support on the 618 fib retracement, marked as the critical zone.
Note
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