BTC MF RSI trendlines and FIBS
Updated
From the 12k level we dropped to ~9.8k and bounced to 11k almost perfect touch of the 0.618 fib.
We dropped to 10.1k (higher low) to bounce again to 0.618 at ~10.7k where we stayed for a while.
Breaking this last 0.618 fibs is very bullish and we are forming a couple of channels and flags along the road.
Volume should be watched for confirmation.
Bullish scenario:
- Target 1 ~11.3k
- Retest could be ~10.9
- Break Target 1 11.3k and new high around ~11.8k but this is guessing.
Bearish scenario:
- Target 1 ~11.3k
- Retest could be ~10.9
- Support broken
- Target ~10.3k
Clear uptrend so for now bullish.
Note
Some interesting levels Trade closed manually
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