BTC/USD Correction - How Do We Move On?
BTC/USD has broken down the 0.618 (11.044 USD) Fibonacci Key Retracement level and we can expect further decrease.
The next interesting levels will be Fib 0.786 (8.630 USD) and the full retracement level Fib 1.000 (5.555 USD).
Both key levels coincide with mayor support lines that prove sufficient during two previous dips, respectively.
At this point, cyclic smoothed RSI and MACD reflect the significant sell-off but do not deliver a clear buy signal yet, which requires us to wait for a sufficient reversal confirmation.
BASIC, PLAIN and SIMPLE.
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The next interesting levels will be Fib 0.786 (8.630 USD) and the full retracement level Fib 1.000 (5.555 USD).
Both key levels coincide with mayor support lines that prove sufficient during two previous dips, respectively.
At this point, cyclic smoothed RSI and MACD reflect the significant sell-off but do not deliver a clear buy signal yet, which requires us to wait for a sufficient reversal confirmation.
BASIC, PLAIN and SIMPLE.
Liked this technical analysis? Follow me for more free technical analysis and high-quality content.
Telegram: t.me/hodlgang_taproom
Twitter: twitter.com/wesker_crypto
Steemit: steemit.com/@wesker
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