Bitcoin: Weak Retracement
Sign of Bearish trend continuation
-Candlestick moving below MA200
-Line B surpass 1.272 fib extension of Line A, although 1:1 expectation not met
-Current retracement line Y momentum much weaker than of previous retracement line Z, signifying weak bull support
Line Z retrace to 0.382 fib of Line A.
Candlestick might challenge the following are:
-294XX (fib 0.382 of Line B)
-MA200 line
-Higher volume trading area (Circled)
-Candlestick moving below MA200
-Line B surpass 1.272 fib extension of Line A, although 1:1 expectation not met
-Current retracement line Y momentum much weaker than of previous retracement line Z, signifying weak bull support
Line Z retrace to 0.382 fib of Line A.
Candlestick might challenge the following are:
-294XX (fib 0.382 of Line B)
-MA200 line
-Higher volume trading area (Circled)
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