911 BITCOIN .5 fib & importance of closing above weekly 20 EMA!
first take a look at red arrows, that's how far that candle went to. and see what importance that 'white line' is..
i then did fib retracements. the white arrows represent where i placed those retracements, and you can see that .5 lines up perfect with that 'white line' we fell too.
We need to close the weekly above that 20 EMA or we will be re-visting the mid 30k's again and far worse as shown through bitcoin history if you see what happened when we did close below it on the weekly. Led to 50% drops or more EVERYTIME!
We also need to close daily's very soon above 49k or we will visit mid 30 k's by next week I am sure. That is the consequence of visiting the 50k region. It sets up all the moving averages to that 50k spot we were at, so now if we below those moving averages, well now you know what will happen.
i then did fib retracements. the white arrows represent where i placed those retracements, and you can see that .5 lines up perfect with that 'white line' we fell too.
We need to close the weekly above that 20 EMA or we will be re-visting the mid 30k's again and far worse as shown through bitcoin history if you see what happened when we did close below it on the weekly. Led to 50% drops or more EVERYTIME!
We also need to close daily's very soon above 49k or we will visit mid 30 k's by next week I am sure. That is the consequence of visiting the 50k region. It sets up all the moving averages to that 50k spot we were at, so now if we below those moving averages, well now you know what will happen.