BTC - WHY WE WILL LIKELY SEE A RETRACE
Updated
The secret indicator was signaling a 16560 as local max, I think we will see a correction soon. Here is why
when long short ratio approaches to 1 we see a correction to the previous support in order to give the possibility to traders to open new longs. It happened when we broke 10k and then we retested it. In this case the support is at 12k. We never retested it yet.
when long short ratio approaches to 1 we see a correction to the previous support in order to give the possibility to traders to open new longs. It happened when we broke 10k and then we retested it. In this case the support is at 12k. We never retested it yet.
Note
important to notice that the 100d MA is located at 11.9k now. Another confluence that confirms that the 12k is a very likely level. The 200d MA is not that important now as we are in a bullish trend, therefore the 200ma is not likely to be touched as the retrace probably won't be that deep.
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