BTCUSDT | ANALYSIS UPDATE
Hello, guys!
First of all I want to talk about this "insane" fractal which you can see on the chart. Everybody see this fractal and talk about it, i think that market is going to cheat the crowd. It is too obvious now to think that the market is going to $30000 again. We will probably see the Bitcoin price even, but only after the bounce.
The price now is above the 0.5 Fib of the last bullish impulse, it is normal to see the correction even lower to 0.61 Fib ($38300). The long squeeze is possible to this area to make the market fearful. Moreover, the price found the support exactly at the Monthly S1 Pivot, to cheat the crowd and take their stop losses this move is very likely to happen.
First of all I want to talk about this "insane" fractal which you can see on the chart. Everybody see this fractal and talk about it, i think that market is going to cheat the crowd. It is too obvious now to think that the market is going to $30000 again. We will probably see the Bitcoin price even, but only after the bounce.
The price now is above the 0.5 Fib of the last bullish impulse, it is normal to see the correction even lower to 0.61 Fib ($38300). The long squeeze is possible to this area to make the market fearful. Moreover, the price found the support exactly at the Monthly S1 Pivot, to cheat the crowd and take their stop losses this move is very likely to happen.
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.