Math is everything
Updated
Numbers don't lie...
If we look at a bigger picture... The bull run started on 14.09.2017 at the price of 2900... The ATH was on 17.12.2017 an almost 20k...
So first, the bottom on 06.02 is a retracement to FIB LEVEL 0.786 from ATH
The next high on 05.03 is a retracement from that low (06.02) to around FIB 0.382
The next low on 18.03 is a retracement from 05.03 high at FIB 0.786
The last high on 21.03 is a retracement from 18.03 to around FIB 0.382
Yesterday low is a retracement from 21.03 high at FIB 0.786
If we folow this, the next high is around FIB 0.382 from yesterday low somewhare around 8.200
And after that... Who knows!!!
If we look at a bigger picture... The bull run started on 14.09.2017 at the price of 2900... The ATH was on 17.12.2017 an almost 20k...
So first, the bottom on 06.02 is a retracement to FIB LEVEL 0.786 from ATH
The next high on 05.03 is a retracement from that low (06.02) to around FIB 0.382
The next low on 18.03 is a retracement from 05.03 high at FIB 0.786
The last high on 21.03 is a retracement from 18.03 to around FIB 0.382
Yesterday low is a retracement from 21.03 high at FIB 0.786
If we folow this, the next high is around FIB 0.382 from yesterday low somewhare around 8.200
And after that... Who knows!!!
Note
Today didn't start well but if this is lowest it can get, the 8.200 target is still valid...On the 1h chart we have a massive RSI divergence, so it all suggests we can go upward...
But remember, we are on a bearish downtrend so I suggest not to trade as long as we don't see a breakout to the upper
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