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Fibs

Not Getting Too Excited yet...here's why. **BTCUSD** Looking at the daily demand, we've now broken it and we REALLY need to hold this area and break out confidently from this descending structure, otherwise we're looking at the low 8's / high 7's in the short term. There is a bit of liquidity, where we ranged between 7.7 - 8.4 from the 26/09 - 26/10, which I wouldn't be surprised if we revisited again if we can't hold this area and move up. In regards to this wedge - to back it up we also have some bullish divergence on the CCI, where IF we break upwards, we could very well see a re-test of the 8.9k mark where we face some heavy resistance in the 50fibs and also our ichi. Lots of people been calling a bullish run lately and right now... I don't really see it and even with a break of this wedge i'd be cautious of jumping on any fomo run. Not in any trade currently, but always willing to change my bias depending on what's presented at the time.
COINBASE:BTCUSD
by Unity-Trading-Group
This area NEEDS to Hold..BTCUSD After another 24hr in bitcoin, it's not looking any better just yet. On the daily, we've pierced demand yet again, with a near perfect touch of the 61.8 fibs, with no new higher highs occurring. Sentiment remains the same from yesterday, although things aren't looking any better for the bulls at this stage. This daily doji represents indecision in the market right now, so until such time as we get a clear break into the cloud, or above our supply zone, we remain neutral. This area NEEDS to hold..
COINBASE:BTCUSD
by Unity-Trading-Group