To early to call really, this idea really just feels right to me. I know there's a lot of signs that are pointing towards low 6k for bounce, but I'm more bullish minded with BTC and am cool with this .786 retracement over the bearish 1:1 scenario.
If we do get this descending wedge then you can expect some nice bounce back up to 8400 range over the weekend.
Why we're bouncing right now. Hitting that .786 FIB level perfectly
If we do get this descending wedge then you can expect some nice bounce back up to 8400 range over the weekend.
Why we're bouncing right now. Hitting that .786 FIB level perfectly
Note
Looks like a channel downward now. Also a bull flag on the bear market, I'd take this over a ascending channel any day. Hopefully we can stay stable in this channel for a bit, give our bulls a price point to bite on and then rocket out of this dipNote
LOL sorry guys, it's Friday and I'm out having fun. This also is a WAY early call. Need confirmation to bottom of green to confirm the channel. 3 points is a pattern, 4 is confirmation
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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.