BTC FIBONACCI RETRACEMENT
Market was active lately due lack of trust to stock market after Melvin Capital violate the free market rules by blocking retail investors,who defeated them in their own rigged game, trade on some apps like Robin Hood, WeBull etc. Elon Musk endorsed Wall Street Bets and put #Bitcoin in his bio. It caused a fake breakout attempt for BTC(very likely 25Oct 2019 pump after Xi Jinping's encouraging statement about blockchain and crypto) but BTC still needs a proper correction. MACD cross for bullish wave seems rejected. Approaching Chinese new year is creating selling pressure on Chinese miners which is approximately %60 of total BTC hash power. Next stop is 0.236 (near 26k) according to Fibonacci Retracement.
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.