0.618 Fibonacci Retracement is keeping us down.
Hello friends,
I must apologize for my last post. I expected a dump at the 21 weekly moving average, but in the end it was a breakout to the upside. Still stuff like this is part of the game and we keep on trading to gain more than we lose. With the last pump you notice that Bitcoin stopped at an important level called the 0.618 Fibonacci Retracement. Besides that we are still overbought on the weekly Stoch RSI. For the time being we remain bearish. If bitcoin falls back and remains above the weekly 21 moving average we might see long opportunities for in the future. For now that's it.
Much love,
Nafasion
I must apologize for my last post. I expected a dump at the 21 weekly moving average, but in the end it was a breakout to the upside. Still stuff like this is part of the game and we keep on trading to gain more than we lose. With the last pump you notice that Bitcoin stopped at an important level called the 0.618 Fibonacci Retracement. Besides that we are still overbought on the weekly Stoch RSI. For the time being we remain bearish. If bitcoin falls back and remains above the weekly 21 moving average we might see long opportunities for in the future. For now that's it.
Much love,
Nafasion
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