BTCUSD Start of Bearish or End of Bearish?
If you look at where the current zone is at from previous market manipulation, it will consololidate for few days or even weeks and go up eventually.
50 MA is about to cross 200 MA but it hasn't yet. There is slight chance it will bounce back.
Currently sitting at 61.8 of Fib level. If it bounces and end bearish cycle, we can then look at 95k+ at the end of bullish cycle which is 161.8 of Fib level.
30k-40k will be boring waiting zone. Will see how the candles form to spot another pattern.
(Had symmetrical triangle on 4h and broke below)
If bearish move continues and breaks below the 30k support zone, it will go down to 22350 area which is 78.6 of Fib level.
(Seeing bearish divergence on 4h and 1h)
Would it end bearish cycle and go back to bullish? Or will it continue bearish after a correction?
My thoughts are end of bearish.
50 MA is about to cross 200 MA but it hasn't yet. There is slight chance it will bounce back.
Currently sitting at 61.8 of Fib level. If it bounces and end bearish cycle, we can then look at 95k+ at the end of bullish cycle which is 161.8 of Fib level.
30k-40k will be boring waiting zone. Will see how the candles form to spot another pattern.
(Had symmetrical triangle on 4h and broke below)
If bearish move continues and breaks below the 30k support zone, it will go down to 22350 area which is 78.6 of Fib level.
(Seeing bearish divergence on 4h and 1h)
Would it end bearish cycle and go back to bullish? Or will it continue bearish after a correction?
My thoughts are end of bearish.
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