If tomorrow high is not broken on Bitcoin. Very much dependend on news, speculation of crowd / sentiments.
Then it is very likely we get another deeper pullback into the 7k and 8k zone.
I use Fibonacci pullbacks calculations, proven on historic priceaction on this same bitcoin chart.
And yes it is same from historic forex and gold priceaction. Nothing fancy.
Also Fibonacci extentions are used to calculate future prices.
First target around high 13k and up to 15k for next leg up.
Noticed the pullback levels should hold for this setup ofcourse.
Trade safe and smart.
Then it is very likely we get another deeper pullback into the 7k and 8k zone.
I use Fibonacci pullbacks calculations, proven on historic priceaction on this same bitcoin chart.
And yes it is same from historic forex and gold priceaction. Nothing fancy.
Also Fibonacci extentions are used to calculate future prices.
First target around high 13k and up to 15k for next leg up.
Noticed the pullback levels should hold for this setup ofcourse.
Trade safe and smart.
Note
People are worried why I posted this idea as Short.Its the way you read it.
Short into support, if it was only the dip or deeper pullback is what I wrote above.
Depending on the developments. As drawn you see the possible long green box is larger then the red box. So yes it's in the end a long setup.
But as you know price always has to prove the idea and levels.
Take care.
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.
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.