4h Chart may indicates a raising wedge pattern which is forming a potential right shoulder.
According to fib-levels starting from $3.1k to the head $9.1k:
If H+S pattern gets confirmed, BTC could retrace to $6.1k (50%) and $5.4k (61%).
Also note that BTC crossed and closed below the 21 EMA for the first time several days ago.
According to fib-levels starting from $3.1k to the head $9.1k:
If H+S pattern gets confirmed, BTC could retrace to $6.1k (50%) and $5.4k (61%).
Also note that BTC crossed and closed below the 21 EMA for the first time several days ago.
Note
Updated idea:
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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.