BTCUSD retracement, continuation uptrend possibility
Lower-timeframe, might signal contrary to bigger reversal than the 'continuation' uptrend.
2-Hour chart signals a soon possible downward [SHORT] reversal. Contrary to posted idea [See IMAGE below]
I set a Fibonacci within a major Fibonacci retracement and found this "u-turn". Assuming Market Baseline (Yellow) will continue to show an uptrend.
Even though, this may be the last chance for the price to move down [short] as shown in snapshot image, if it becomes a reversal.
2-Hour chart signals a soon possible downward [SHORT] reversal. Contrary to posted idea [See IMAGE below]
I set a Fibonacci within a major Fibonacci retracement and found this "u-turn". Assuming Market Baseline (Yellow) will continue to show an uptrend.
Even though, this may be the last chance for the price to move down [short] as shown in snapshot image, if it becomes a reversal.
Note
Price hit 61.8% of past Fibonacci retracement tool placed, if it will continue up, it will rise to at least $1,110.Trade active
$1070 Buy Stop entryTrade closed: target reached
$1092 trade close
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Related publications
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.