The Week Ahead: Bitcoin

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Scenario A: The move lower looks more favourable at this level as the market is between 0.382 and 0.618 retracement levels for a while now. The price action is confirmed by breaking the Parabolic and the HMA crossover to the downside. Should the market break the 0.618 level, we could see Bitcoin go to 3578 and potentially 3472.

Scenario B: Price rejects 0.618 and breaks through the 0.382 trading back to the 4000 level.

This analysis is for informational purposes only and is not a recommendation, buy/sell signal, or advice in any format.


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