Usually Alts retraces after a strong uptrend to the 0.382 Fib level, my target for retraces are 0.382 but also the golden ratio 0.618-0.66, I would not long from these levels as BTC behaviour isn't clear for now, perhaps I would like to take a short between the OB n.2 and 2 Fib Extension level. I marked out my area of interest for an eventual short opportunity. We could also see an Equal Highs formation before the downside with the swipe of 1.618 Fib Extension. I will be watching closely using Exocharts for pulling the trigger when price will reach my area of interest.
Note
Front runned 0.382 by few cents
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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.