NEOBTC is also creating a falling wedge, so expect a decent bounce from here.
However, if BTC falls then next support zone is the 618 or 65 fib level i.e. at around 8.4 USD.
Not a financial advice but I would ladder longs here.
Happy trading!!!
If the descending triangle breaks to the down.
Target 1 is 0.5 fib level.
It can go to 0.618 level with a wick.
The long term trendline can act as a support.
Neutral view.
I am looking to open a short at around 4100 for a quick scalp at 618 retrace level of the previous high 4380.
Can change the decision seeing the momentum and volume.
Disclaimer: Not a financial advice.
Retraced to 618 fib level.
Creating a falling wedge which is bullish.
A breakout possible but there is a strong resistance as a channel.
Trade with caution and a tight stop loss.
Not a financial advice, just an idea.
