The Fibonacci retracement (starting from the highs back in dec '17 to the lows in '18) level of .382 have given a strong support level for BTC price action the past few months. The symmetrical triangle, which has formed since June, is consolidating with an expectation of a breakout or breakdown. Last week we saw BTC price action breach through the bottom triangle convergence line only to be supported by the magical .382 level. For the whole duration of the triangle formation, we have seen this level being bounced off of 4 different times. I expect to see a breakout towards the .5 level soon.
Thoughts?
Thoughts?
Comment:
.382 breached to the downside.