Hey traders,
In the previous analysis, we were expecting bitcoin to move up from 0.5 - 0.618 fib levels. But what has happened is that price made a deep retracement towards 0.88 fib, which is good for us. why?
The 0.88 fib level is very close to the low = tight stoploss = higher Risk to reward = Big gains
LONG Setup:
- Watch the break of the descending blue trendline
- Wait for a retest or a pullback for entry
- Stoploss: Below 0.88 fib or below the recent low
- Targets: 76k, 80k, 87k, 96k and 99k.
Good Luck and trade Safe
In the previous analysis, we were expecting bitcoin to move up from 0.5 - 0.618 fib levels. But what has happened is that price made a deep retracement towards 0.88 fib, which is good for us. why?
The 0.88 fib level is very close to the low = tight stoploss = higher Risk to reward = Big gains
LONG Setup:
- Watch the break of the descending blue trendline
- Wait for a retest or a pullback for entry
- Stoploss: Below 0.88 fib or below the recent low
- Targets: 76k, 80k, 87k, 96k and 99k.
Good Luck and trade Safe
Note
Expectation Note
BITCOIN Daily Update - Price made a new low and then broke the descending trendline 
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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.
Related publications
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.