BTCUSDT Pullback (Short Term)
Updated
My previous idea about the pullback was aborted since the 4h candle did not close under the 0.236 Fibonacci channel line. The last push did not able to make a higher high to reach 47k.
Today's important level is the 0.618 fibonacci level as 45240. Closing 4h candle under that level might start the pullback to price levels 44300-43700-42800.
I am on stand by at this moment. Let BTC decide what to do from here.
Today's important level is the 0.618 fibonacci level as 45240. Closing 4h candle under that level might start the pullback to price levels 44300-43700-42800.
I am on stand by at this moment. Let BTC decide what to do from here.
Note
Btc started to follow the plan, rather quickly. Area of interest is now between 44300-44800. I expect it might spend some time here, then continue towards 43700.Note
BTC dropped to 43800. I think the pullback is complete for today. I expect some accumulation in this region. It might go upto 44700 level before continuing the pullback. Daily close is very important;
- Close below 43800, the targets will be 43200-42200-41200-40000. The region between 42200-43200 has few volume with single prints. The drop between might be fast.
- Close above 45000, it might try another local high into region 48000-49000.
In long term, 40k presents a very strong support and above it is highly bullish.
Note
Daily closed at 44300. And it manage to break 45200 and 46000 in couple of hours. I expect to down movement to 44700-45200 intra-day.
Related publications
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.