BTCUSDT continues its downward trend on the fourth day of the week, surpassing the psychological support level of $40,000 and trading around $39,600. The strong support for further decline is evident as it trades below both EMA lines and shows a clear reversal signal from the EMA 34.
On the chart analysis and using Fibonacci, there is a possibility of creating a DOW after the correction phase has taken place. The low point below the 1.618 level (which is around $35,100) will be the first profit-taking opportunity for sellers at the current time and in the scenario mentioned above.
On the chart analysis and using Fibonacci, there is a possibility of creating a DOW after the correction phase has taken place. The low point below the 1.618 level (which is around $35,100) will be the first profit-taking opportunity for sellers at the current time and in the scenario mentioned above.
Trade active
Note
Price is approaching the perfect Fibonacci 0.5 level, a red candle confirms that the downward trend will soon beginNote
Related publications
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.
Related publications
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.