The Big Short Incoming ? Simpler is always better
I opted to keeping it simple here, using just 1. FIBO RETRACEMENT to determine main support areas, which are likely to be broken but won’t give the price an easy pass through them, Support Area 3 (as mentioned on the chart) represents key area imo, and with a clear 2. BEARISH DIVERGENCE on the 4 hour time frame, I think breaking of all above mentioned support areas is the closest scenario to happen so be ready for a massive incoming drop. The mentioned support areas above are great take profit points if you opened a short position. This massive drop should only stop with a Huge Volume Spike, which if doesn’t appear before the 17K area, we can kiss it goodbye for now.
PS: This is not a financial advice, DYOR and trade accordingly. Best of luck.
PS: This is not a financial advice, DYOR and trade accordingly. Best of luck.
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