DAILY TTIMEFRAME BREAKDOWN
From a technical perspective what we can see is market has made a big bearish impulse breaking below daily support at 51k
( which is just a correction on higher timeframes) After a impulse what you can expect is the market to make a correction to atleast the 0.382 fibonacci, which is also aligning perfectly with this level of previous support now turned resistance giving us a confluence of resistance. If this zone holds im expecting further bearish momentum and the market to form another new lower low from a daily perspective to complete this BEARISH daily I.C.I strategy.
From a technical perspective what we can see is market has made a big bearish impulse breaking below daily support at 51k
( which is just a correction on higher timeframes) After a impulse what you can expect is the market to make a correction to atleast the 0.382 fibonacci, which is also aligning perfectly with this level of previous support now turned resistance giving us a confluence of resistance. If this zone holds im expecting further bearish momentum and the market to form another new lower low from a daily perspective to complete this BEARISH daily I.C.I strategy.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.