KarySah

How Big the BTCUSD retracement can be? Crashing? Freefall?

KarySah Updated   
COINBASE:BTCUSD   Bitcoin
After the BIG rally which bring us from 6.5K to almost 10 K, where we crossed above all trendlines and EMAS and several Pivot lines, now we are experiencing a very strong retracement, we are crossing back down all those levels (already below 20 EMA, 100 EMA and 200 EMA).

Trend is now Downtrend?
I would still consider a healthy retracement if it reaches the 50% FIb Retracement, about 8200 level, below that level we could be shifting the trend.

Many traders use this retracement level to buy the Dip thats why you should Expect an aggresive reaction on this Fib Level
Comment:
As we said, retracement came to 50% Fibnonacci (8200)
I still consider it as normal. Below that probably there would be a shift trend.
Comment:
Again, Big resistance level at the 50% Fib Retracement
Comment:
We have bounce back up 3 times from 50% Fibonnaci retracement. Very important level to breakout...
Comment:
BTCUSD price has gone below 50% Fib Level, most probable shift trend, only remaining support is the trendline (blue line) could be the one that saves the crash.
Comment:
As expected, our support line (blue trendline at 7800 level) stopped the free falling
Next resistance blue line (trendline 8700 level) and 200 EMA (Yellow line)
Comment:
We are probably entering into a new downtrend. It has broken down below EMAs, Fib 50% retracement and trendline. If it consolidates below these level, definitively it is more a new downtrend.

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