BitcoinLong
Up and Down; then Up, Up, and Away!
The 50% Fib Level (Purple Line) is THE MOST IMPORTANT since it is the deciding factor if we're going to the moon or not.
We've yet to come back down for a short-term correction (breather), but that's okay -- this phase of Bitcoin is MUCH, MUCH different than the previous.
All in all, we have to pay attention to the 50% Fib Level (Purple Line).
If see a rejection at the 50% Fib Level, wait until it breaks 38.2% Fib Level before shorting (not pro advice or financial advice).
If we do break 50% Fib Level, wait for a retracement as there will tend to be a short term sell off (not pro advice or financial advice).
I'm going to make an analytical guess that IF/WHEN we do see a sell-off (correction) -- we could see panic sellers from the recent buys that could take us back down to around 24k (if lower, then at lowest 16k region) before we have strong buyers who will come back into the game buying the dip(s) bringing us back all the way to 50% Fib Level and even breaking it with a powerful upward momentum (fomo).
All in all, it's speculation and shouldn't be taken seriously.
These are my thoughts on one aspect of the current chart.
We've yet to come back down for a short-term correction (breather), but that's okay -- this phase of Bitcoin is MUCH, MUCH different than the previous.
All in all, we have to pay attention to the 50% Fib Level (Purple Line).
If see a rejection at the 50% Fib Level, wait until it breaks 38.2% Fib Level before shorting (not pro advice or financial advice).
If we do break 50% Fib Level, wait for a retracement as there will tend to be a short term sell off (not pro advice or financial advice).
I'm going to make an analytical guess that IF/WHEN we do see a sell-off (correction) -- we could see panic sellers from the recent buys that could take us back down to around 24k (if lower, then at lowest 16k region) before we have strong buyers who will come back into the game buying the dip(s) bringing us back all the way to 50% Fib Level and even breaking it with a powerful upward momentum (fomo).
All in all, it's speculation and shouldn't be taken seriously.
These are my thoughts on one aspect of the current chart.
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.