1.
Parallel channels drawn between key points of bull run tops & bear market bottoms indicate parallel ranges in which
BTC has been playing in
2.
Fib retracement drawn from 2013 top to the next bottom shows corrections during the next ralley around Fib 2.6 & 4.2 regions
Fib levels drawn from 2017 top to the next bottom also show the fib ranges in whichBTC has played this time
3.
BTC is seen being rejected by the lower level of the blue channel drawn from March'20 bottom & Feb'21 highs
1 + 2 + 3
There is a confluence of a parallel channel line and Fib 2.6 level near the $43k-$44k range will it serve as a support forBTC before it retests the blue channel's lower level and go higher?
Parallel channels drawn between key points of bull run tops & bear market bottoms indicate parallel ranges in which
BTC has been playing in2.
Fib retracement drawn from 2013 top to the next bottom shows corrections during the next ralley around Fib 2.6 & 4.2 regions
Fib levels drawn from 2017 top to the next bottom also show the fib ranges in which
BTC has played this time3.
BTC is seen being rejected by the lower level of the blue channel drawn from March'20 bottom & Feb'21 highs1 + 2 + 3
There is a confluence of a parallel channel line and Fib 2.6 level near the $43k-$44k range will it serve as a support for
BTC before it retests the blue channel's lower level and go higher?Note
BTC bounced off the $43k zone!The market is neutral, yet to decide & confirm a possible bull/bear scenario. I am not trading these conditions yet.
Note
$43k breached
29K is an extremely strong resistance if the market decides to dump further
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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.
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.