Playing around with fib circles and Fib time, but I'm not the biggest fan of them. They are cool I guess. Anyways, I haven't taken a long position in btc yet. I am honestly waiting for another impulse down into the purple support area between $9,130 to $9,650 with bullish divergence or convergence. Break below the purple support and that would be no good for the bulls. I still have a descending triangle plotted as that is what it looks like as of now. A measured move of the descending triangle over time could take us to between $5,400 to $6,000 support. Not saying this will be the case, but it is a possibility and remains an idea for now as I had posted a little while ago for the daily time frame.
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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.