Bitcoin expected retrace about to start ?
Using 2 sets of retracement Fibs on this chart. The LArger set comes from the Nov '21 ATH....PA came down to the 768 and ranged along it apart from a short drop below after FTX, NAd in the recent push up, came back to the 702 ( technicaly Not a Fib line but often met)
The Shorter Fib retrace is of the "Local" high after the recent push up. I can see PA coming back down to the red circle Zone, where it will find support of an old Trendline, which is also the 386 fib line. - This may take 2 weeks to do, aily and Weekly Macd oversold and needs to cool off....
Ths may also pay well into the FED rate hike on 1st Feb
This retrace is healthy.....be ready to sna up more BTC ;-) But watch close, things can change quickly righ tnow
The Shorter Fib retrace is of the "Local" high after the recent push up. I can see PA coming back down to the red circle Zone, where it will find support of an old Trendline, which is also the 386 fib line. - This may take 2 weeks to do, aily and Weekly Macd oversold and needs to cool off....
Ths may also pay well into the FED rate hike on 1st Feb
This retrace is healthy.....be ready to sna up more BTC ;-) But watch close, things can change quickly righ tnow
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