The 15-minute chart of Bitcoin (BTCUSD) on Bitstamp showcases a potential shorting opportunity as the price completes a corrective wave (b) and prepares for a possible decline towards the 0.618 Fibonacci retracement level.
Key Level:
0.618 Fibonacci Retracement: 58,134
This level represents a likely target for the corrective wave (c). Traders may consider short positions, aiming for this level, with stops placed above the recent high of wave (b) to manage risk effectively.
Key Level:
0.618 Fibonacci Retracement: 58,134
This level represents a likely target for the corrective wave (c). Traders may consider short positions, aiming for this level, with stops placed above the recent high of wave (b) to manage risk effectively.
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.
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.