BTC is a showing us something - You need to check this chart
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Bitcoin is showing some interesting things. Each time we had a impulsive move upward, take a look at where price stopped (before continuation down). Yes exactly at the Golden Pocket (between the 0.618 and 0.65) Fibonacci.
Is that a coincidence? I don't think so as this zone is very often acting as support or resistance depending on the trend direction and TF.
Bitcoin price is exactly at the golden now!
Will this time be different than the past 2 rejections? I don't think so as we are still in a downtrend (big picture) without higher highs + where can see some bearish divergence in the 4H and a descending volume.
2 options now:
1) Aggressive: Start to build a position with a SL 2% above the previous wick and add more when the price shows more bearish signs.
2) Conservative: Wait for a nice red daily candle to start building your position.
Please encourage me by commenting below if you agree or disagree with my analysis and I will continue posting every day!
Thank you,
Bitcoin is showing some interesting things. Each time we had a impulsive move upward, take a look at where price stopped (before continuation down). Yes exactly at the Golden Pocket (between the 0.618 and 0.65) Fibonacci.
Is that a coincidence? I don't think so as this zone is very often acting as support or resistance depending on the trend direction and TF.
Bitcoin price is exactly at the golden now!
Will this time be different than the past 2 rejections? I don't think so as we are still in a downtrend (big picture) without higher highs + where can see some bearish divergence in the 4H and a descending volume.
2 options now:
1) Aggressive: Start to build a position with a SL 2% above the previous wick and add more when the price shows more bearish signs.
2) Conservative: Wait for a nice red daily candle to start building your position.
Please encourage me by commenting below if you agree or disagree with my analysis and I will continue posting every day!
Thank you,
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