SCBTC Rebound to 0.5 Fib
Updated
SCBTC looks like it has already had it's retrace to 0.5 Fib (362 sats), however the Flat Kumo indicates we may yet see another dip before heading back up to a target of between 843 - 1000 sats.
Comment
Looks like we dipped a little further. Point to note, all major alts took a dump today at around the same time so this may be a one off. In any case, 0.5 Fib is starting to form support. If we break 0.618 Fib, we'll be heading to 500 satoshis as the interim target.Comment
Looking good. 0.618 Fib is not acting as support with with an uptick on volume. Next test will be 0.786 Fib.Comment
BTCUSD correction is dragging the Alts down as well. New money is panic selling. This is to be expected when such a big correction takes place. This is when money moves from weak hands to the strong. 0.236 Fib is the next support level to watch.Trade closed: target reached
Target reached after a massive bull run. SCBTC is retracing. Closed trade.
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