Based on the $20K-ish BTC/USD high, and a pretty solid support level of $4,800, a 23.8% level OF the high (20,000 X 0.238) puts us right about $6k. I suspect we may go all the way down to $4,800. If THAT floor breaks, then we really are looking at foundational BTC support. I don't think we'll pass below $3,000 in any case, at least, based on the current technicals.
Swimming with the sharks, indeed.
As always, my confidence in my math is higher than my confidence in actually drawing the charts. :)
Swimming with the sharks, indeed.
As always, my confidence in my math is higher than my confidence in actually drawing the charts. :)
Note
As always, I have more confidence in my math than I do my chart actual drawing. :)
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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.