Fibonacci Classic: Bitcoin touches 0.382 after 0.236
Fib retracement applied from 07 Sep 20 shows and up to 15 Feb top candle body
View on daily, weekly and monthly candles.
We can see the classic form of
- touching the top 57-58K.
- Twice falling down around FIB 0.236 (43-48K) and then back up to the top.
- And today, 19 May 21, falling down and touching FIB 0.382 (38-42K).
A bit worrying is that
FIB says touching 0.382 should not be considered as break a trend and there are still good chances for the next Bitcoin sprint.
Also, we can see that FIB 0.382 (38-42K) has a good support which should have been accumulated from 6 Jan to 8 Feb.
Risk: price does not jump off FIB 0.382.
If the price will be able to jump a bit up and stabilise above 40.4K that will be a good sign.
Limit buy orders: around 39.5K
Stop-loss around 34.7K.
Shall we load up gents, your opinions?
PS: Most probably this situation was already played all the way through by the bigger whales starting from 13-15 May 21.
View on daily, weekly and monthly candles.
We can see the classic form of
- touching the top 57-58K.
- Twice falling down around FIB 0.236 (43-48K) and then back up to the top.
- And today, 19 May 21, falling down and touching FIB 0.382 (38-42K).
A bit worrying is that
FIB says touching 0.382 should not be considered as break a trend and there are still good chances for the next Bitcoin sprint.
Also, we can see that FIB 0.382 (38-42K) has a good support which should have been accumulated from 6 Jan to 8 Feb.
Risk: price does not jump off FIB 0.382.
If the price will be able to jump a bit up and stabilise above 40.4K that will be a good sign.
Limit buy orders: around 39.5K
Stop-loss around 34.7K.
Shall we load up gents, your opinions?
PS: Most probably this situation was already played all the way through by the bigger whales starting from 13-15 May 21.
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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.