BTC long-term needs to decide
Updated
Looking at the daily chart of BTC, it looks like the price needs to decide which way it wants to go:
1. If the price breaks the 61% Fib level, I think it is safe to say that we have entered another uptrend
2. but if the price breaks the 38% Fib level, I would adjust my trades to be more short positions rather than long ones.
In the meanwhile, it's good to trade between these 2 levels until either one of them breaks.
1. If the price breaks the 61% Fib level, I think it is safe to say that we have entered another uptrend
2. but if the price breaks the 38% Fib level, I would adjust my trades to be more short positions rather than long ones.
In the meanwhile, it's good to trade between these 2 levels until either one of them breaks.
Note
looks like the price has decided to go up, although there is still 17h for the daily candle to close but it looks promisingNote
just after the price broke the 38% level it has fallen more than 30% downwardTrade closed: target reached
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