If we go back in time and scan the BTC charts, comparing other retests of the 200d SMA, one fractal from June/July of 2018 stands out in particular.
Not only got it rejected at the 0.618 Fibonacci retracement and couldn’t break the SMA, it also appears to be very similar - look what happened after that bull trap back then… the capitulation to $3K.
With this in mind, hope for the best but be prepared for the “worst”.
Not only got it rejected at the 0.618 Fibonacci retracement and couldn’t break the SMA, it also appears to be very similar - look what happened after that bull trap back then… the capitulation to $3K.
With this in mind, hope for the best but be prepared for the “worst”.
Creating a sustainable state of financial freedom for all followers through „technical smartness“
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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.
Creating a sustainable state of financial freedom for all followers through „technical smartness“
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.