FIB level are perfectly respected. They guide the path to manage risk. Mix it this with your analysis.
FIB channels is one the bets strategies, especially when mixed with other analysis.
Rejection was heavy on .F18 FIB Ret. In Addition , Price is in Mid of its parallel channel. Tendency to drop to the floor. Moreover, MACD and RSI are in overbought zone. Finally, FIB Channel is also suggesting drop in price will continue.
FIB Channel played a major role in the price trend in multiple times previously. Is it the case this time too? Will we see a price correction from here?
What is Scenario for Bitcoin? Bitcoin has been moving through a channel. The midline is respected in its recent price hike so a short scenario seems to be more probable. This analysis also illustrates the vulnerability of price linked to the very low volume supporting this current price hike. The POC depicts a very low price target for Bitcoin. #BTC. #Bitcoin
While last 9 month #bitcoin structure is Bullish, its current power is Bearish. here are what i see for my targets.