Fibonacci retracement 0.382 point and critical rectangular resistance are at this point around 41,600$
Breaking up here can take us to Fibonacci retracement 0.236 level that is around 45.500$. Even if Bitcoin will see this level in my desicion we may target Fibonacci retracement 1 level which is very close to main trend support.
Rsi lower than previous rectangular resistance levels.
In my desicion Elliot "C" wave correction i think it's not over yet. I would expect a length close to "A" wave.
Volume doesn't give a reversal signal yet to me.
Finally, I usually expect Fibonacci retracements to end between 0.786 and 1.618 points. Last time we turned back from 1.618 retracement point.
* None of what i write here is not an invesment advice. Please do your own research before investing in any digital asset.
Breaking up here can take us to Fibonacci retracement 0.236 level that is around 45.500$. Even if Bitcoin will see this level in my desicion we may target Fibonacci retracement 1 level which is very close to main trend support.
Rsi lower than previous rectangular resistance levels.
In my desicion Elliot "C" wave correction i think it's not over yet. I would expect a length close to "A" wave.
Volume doesn't give a reversal signal yet to me.
Finally, I usually expect Fibonacci retracements to end between 0.786 and 1.618 points. Last time we turned back from 1.618 retracement point.
* None of what i write here is not an invesment advice. Please do your own research before investing in any digital asset.
Comment:
Never take my personal opinions as investment advice, you may lose your money.