BTC SIGNAL FURTHER DOWNSIDE TO $57,700
Updated
It appears quite clearly that BTC has finished the retrace of the initial impulse at 67% retrace level and has given a divergence signal on many lower timeframes for the downside. Fib. extension measurement shows $57,700 next target on the charts.
Caution: if price fails to break through $62,000 on 12 hour timeframe this trade idea could fail as $68,285 extension target is also not fully nullified. I'm bearish and shooting for $57,700 target.
Cheers fellow traders!
Caution: if price fails to break through $62,000 on 12 hour timeframe this trade idea could fail as $68,285 extension target is also not fully nullified. I'm bearish and shooting for $57,700 target.
Cheers fellow traders!
Trade active
We got close enough to intended target ($58,863). Since this pivot level things are volatile and choppy seeming to show a reversal in favor of bulls but the battle is not over.
I'm watching today's candle close (10/12/2024) to find more clues. This is the final update to this trade idea. I will post another trade idea on BTC next week once more data is analyzed. In the meantime, if we make a lower high on the daily chart, I expect fall price falling to $61185 and possible still hit the $ 57761 zone.
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