BitcoinLong
BTC/USD Fibonacci potential downtrend!!
Updated
If we analyze the Fibonacci levels since the 05/05, which was the last peak, we can notice that the price retrace on almost every Fibonacci level. The current price is placed in the 23.6% right now, which may present another retracement. In addition, there is also a resistance line at the current price. My advice would be to wait for the price to break the current level, if the price doesnt break, we may see a big retracement.
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BTC still having problems to break the 23.6% Fibonacci level. I recommend waiting for the price to break the line if you are going to put money in.
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