BTC, deep once more
Updated
hi there!
we knew BTC broke uptrend line few days ago.
we may see 1-2-3-4-5 pattern, or maybe a-b-c pattern, whatever.
clearly we got another new downtrend wave after BTC broke that uptrend line.
in smaller timeframe, there's bullish. but watch out for range price $10000 to $10400, it's fib 0,5-0,618 area, BTC may bounce at those area.
and 4H RSI chart seems nearing overbought.
if it bounce, then we may see another downtrend movement, the second downtrend wave.
but if it doesn't bounce, next resistance is at around $12000, and may bounce down a few, to make inverted H&S pattern.
for downtrend target, I use fib 1,272, fib 1,618, and fib 2.
Good Luck
we knew BTC broke uptrend line few days ago.
we may see 1-2-3-4-5 pattern, or maybe a-b-c pattern, whatever.
clearly we got another new downtrend wave after BTC broke that uptrend line.
in smaller timeframe, there's bullish. but watch out for range price $10000 to $10400, it's fib 0,5-0,618 area, BTC may bounce at those area.
and 4H RSI chart seems nearing overbought.
if it bounce, then we may see another downtrend movement, the second downtrend wave.
but if it doesn't bounce, next resistance is at around $12000, and may bounce down a few, to make inverted H&S pattern.
for downtrend target, I use fib 1,272, fib 1,618, and fib 2.
Good Luck
Note
reach first target around $7400.bounce or dump more?
let's see what happened now..
Note
meet a ma20 resistance at $9200. now will retest last support, $7322.if it pass $7322, we might see next fib support, around $6220.
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