3090 -3400 likely dwelling region before the second run up
Fibonacci Channel indicative of resistance and support levels though not as strong as the horizontal levels. Approximating the lower bound means better buy reaching to means better sell.
Trade closed: target reached
Top of the Fibonacci channel reached, expect recovery to 3800-4000 range depending on speed.Given the momentum last few weeks/days, be weary of further upshot by opening short or selling only after confirming reversal below 4250
Note
Expect chop as fibonacci ceiling is reached, and part of traders face doubt on buying. Revert to your strategy, long for long term, opportunity to pick up more bitcoin may appear if you sell.
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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.