Hi, this will be short and sweet.
Bitcoin is approching a dangerous fibonacci. On the last bull market we had a bulltrap and a retracement of 31.54%. From 7774$ to 5320$.
It's almost ridiculous to bring back those price.. but just take little attention to this in case...
This 61.8% fib is at 44685.68$, it's the purple one ! A bull trap can happen, jumping in might be very risky.
Do well and i wish you the best.
Log fibo :
-61.8% at 44685$
-76.39% at 59136$
-85.41% at 70320$
-90.98% at 78259$
-100% at 93061$
This might give a chance for a potential retracement on the daily MA21 which is around 28890$
Cheers!
Bitcoin is approching a dangerous fibonacci. On the last bull market we had a bulltrap and a retracement of 31.54%. From 7774$ to 5320$.
It's almost ridiculous to bring back those price.. but just take little attention to this in case...
This 61.8% fib is at 44685.68$, it's the purple one ! A bull trap can happen, jumping in might be very risky.
Do well and i wish you the best.
Log fibo :
-61.8% at 44685$
-76.39% at 59136$
-85.41% at 70320$
-90.98% at 78259$
-100% at 93061$
This might give a chance for a potential retracement on the daily MA21 which is around 28890$
Cheers!
Note
This fib also been a pain in april 2013 take a look.Note
-80%Note
-70% in 2010Note
Bull trap in 2018 on the 0.618 logarithmic fib. Waiting can payNote
possible 2021 pattern 
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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.