Bitcoin has been recently struggling after breaking through several crucial support zones.
There is a single make it / break it zone I will be watching on the related BITX ETF which results in the overall CC golden pocket from the low of the move to the high pivot.
A rejection here may increase probabilities of a further downside drop. A reclaim of the level would give me further confidence on a long trade higher.
Lets see how it plays out.
There is a single make it / break it zone I will be watching on the related BITX ETF which results in the overall CC golden pocket from the low of the move to the high pivot.
A rejection here may increase probabilities of a further downside drop. A reclaim of the level would give me further confidence on a long trade higher.
Lets see how it plays out.
Note
The short Bitcoin etf seems to be forming a bearish hamonic pattern. Although the ficonacci numbers are not quite exact, it is a move into the POC , followed by a swing failure pattern are the top of the range. BITX at critical support on the 618 fib retracement, marked as the critical zone.
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.