It has hit the long term 0.618 and the ribbons tend to have switched downwards which is a negative indication.
If it bounces, it may go to $12k range but if it falls below further, chances are 4000 range is a possibility.
I would wait and see from the sidelines.
PS: this analysis is based on weekly timeframe. No financial advice as I am not a financial advisor.
If it bounces, it may go to $12k range but if it falls below further, chances are 4000 range is a possibility.
I would wait and see from the sidelines.
PS: this analysis is based on weekly timeframe. No financial advice as I am not a financial advisor.
Trade closed: target reached:
Dropped to 4k range. new chart published today
Trade active:
Last few days, BTC has been slow but moving up. I see it may have no problems getting to $7806 levels (0.618 Fib level) if it crosses $7357 levels.
Next target should be 0.5 Fib levels, the strong resistance level of $10123.
Fingers crossed.
Next target should be 0.5 Fib levels, the strong resistance level of $10123.
Fingers crossed.