BTC to 10400??
Here is a very simple chart which shows that BTC still hasn't broken the overall uptrend on the daily,
I have drawn an internal trend within the overall trend which has now broken. however price has bounced twice off the 38 on fibs.
typically a bounce off the 38 is the strongest move of the fib levels, on this chart that isn't the case.
IMO if we break below the 38 we should see a big move to the downside possibly to resistance. $10400 Mark.
For now this is a consolidation zone. there is a lot of indecision with BTC right now.
I have drawn an internal trend within the overall trend which has now broken. however price has bounced twice off the 38 on fibs.
typically a bounce off the 38 is the strongest move of the fib levels, on this chart that isn't the case.
IMO if we break below the 38 we should see a big move to the downside possibly to resistance. $10400 Mark.
For now this is a consolidation zone. there is a lot of indecision with BTC right now.
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.