BTC MIGHT CORRECT SOON
Updated
BEARISH DIVERGENCES AND A POSSIBLE H&S IN THE DAILY CHART.
PRICE IS CURRENTLY TESTING RESISTANCE AT .786 FIB.
50 PERIOD MA SHOWING SUPPORT AT .618 FIB.
IF/WHEN THE PRICE RETRACES IT WILL MOST LIKELY TEST THE TRENDLINE .
FIB LEVELS CAN BE USED AS TAKE PROFIT TARGETS IF SHORT.
NOTE: IN MY OPINION, I DON'T THINK THIS WILL HOLD. BIG EXCHANGES ARE SUSPENDING DEPOSITS AND WITHDRAWALS AND THE SCALABILITY PROBLEM HAS NOT BEEN RESOLVED. LET'S SEE WHAT HAPPENS...
PRICE IS CURRENTLY TESTING RESISTANCE AT .786 FIB.
50 PERIOD MA SHOWING SUPPORT AT .618 FIB.
IF/WHEN THE PRICE RETRACES IT WILL MOST LIKELY TEST THE TRENDLINE .
FIB LEVELS CAN BE USED AS TAKE PROFIT TARGETS IF SHORT.
NOTE: IN MY OPINION, I DON'T THINK THIS WILL HOLD. BIG EXCHANGES ARE SUSPENDING DEPOSITS AND WITHDRAWALS AND THE SCALABILITY PROBLEM HAS NOT BEEN RESOLVED. LET'S SEE WHAT HAPPENS...
Note
BULLISH NEWS:THE CHICAGO MERCANTILE EXCHANGE, THE LARGEST AND MOST DIVERSE DERIVATIVES MARKETPLACE IN THE WORLD FILES A PATENT FOR CRYPTOCURRENCY DERIVATIVES SYSTEM.
bravenewcoin.com/news/cme-group-files-patent-for-comprehensive-cryptocurrency-derivatives-system/
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