BitcoinLong
BTCUSD .618 Correction before 84-250k?
*For journaling purposes*
At the third touch of the daily trend line since creating support above the 1.618 Fibonacci extension of previous market cycle (around 29k). Looking for maximum loss, we should break the trend line and head for .618 daily retracement area. If we create support around 50k (psych level) on H4 we should push and continue the cycle. If price gets very strong at this trend line, I would look for the retracement of that wave on H1.
At the third touch of the daily trend line since creating support above the 1.618 Fibonacci extension of previous market cycle (around 29k). Looking for maximum loss, we should break the trend line and head for .618 daily retracement area. If we create support around 50k (psych level) on H4 we should push and continue the cycle. If price gets very strong at this trend line, I would look for the retracement of that wave on H1.
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