BTCUSD the beauty of the Fib
I am starting to practice Fibs in my trading and guess what, I am surprised!
Just take a look at how precisely 0.27 served as a reversal level! Both at Bitfinex and Bybit charts. Too good to be a coincidence.
I am long BTC from 8066 and targeting 8224 being a range high, as the first aim.
Then I want to show you BTC chart from a HTF perspective but I'll look at a 3D chart instead of a 1D that is most commonly used. But first things first, let's look at the Fibs
Just take a look at how precisely 0.27 served as a reversal level! Both at Bitfinex and Bybit charts. Too good to be a coincidence.
I am long BTC from 8066 and targeting 8224 being a range high, as the first aim.
Then I want to show you BTC chart from a HTF perspective but I'll look at a 3D chart instead of a 1D that is most commonly used. But first things first, let's look at the Fibs
Note
So this is my HTF map from the earlier BTC long idea.If we scale out to 3D (1 bar presenting 3 days trading data) you can see that the bar is still active.
If it manages to reclaim 8300-ish then one could argue that breakdown was foolish and price will again be pinched within a falling wedge.
If so this can provide amazing long opportunities.
Note
I mean something like thisNote
Target hit! Nailed itNote
Note
I must admit that this does not look promising for the bull at all!What could be a support and a starting point for the bulls became a resistance. Sad
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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.