BTC, 3 support levels to lookout for
Bitcoins Retracement after the 40% leg up is developing into 2 harmonic patterns.
Currently eyeing a bullish Shark that's just past the reversal zone.
Entry for that shark is 8676 as phantom indicator demonstrates.
That level is also very close to the 61.8 retracement, which was likely front ran.
Support level 2, is right at the 61.8 retracement.
@ $8558
If both supports fail, then BTC is likely headed down to complete the bat formation, with a potential reversal zone and bottom:
Support level 3: $7664
I'm using indicators by coinobsalgos
Indicator 1: Left chart
Harmonics Scanner
Indicator 2: Right Chart
Phantom
Currently eyeing a bullish Shark that's just past the reversal zone.
Entry for that shark is 8676 as phantom indicator demonstrates.
That level is also very close to the 61.8 retracement, which was likely front ran.
Support level 2, is right at the 61.8 retracement.
@ $8558
If both supports fail, then BTC is likely headed down to complete the bat formation, with a potential reversal zone and bottom:
Support level 3: $7664
I'm using indicators by coinobsalgos
Indicator 1: Left chart
Harmonics Scanner
Indicator 2: Right Chart
Phantom
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.