- Actually TheKing entered a a correction phase. - We climbed for 4 Months Straight. - This kind of retracements are just normal.
- if TheKing still bullish the maximum correction will hit -38.2% Fibo (around 25k$). - if Theking get hurts by a bad news (FA), the correction could bring the price around -61.8% FIbo (around 21.5k$). - The worst max pain dip would be around -78.6% Fibo (around 18.5k$).
- Have a quick look at EMAs Rainbow Crossing up to get a more clear view and understand future movements.
-- imho we are still slowly turning to a bullish impulse. -- Nothing confirmed that we will hit lowers prices for now.
Stay Safe !
Happy Tr4ding !
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Zoom out from 2011 to appreciate the beauty of the Rainbow.
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Zoom in forming trend :
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Always interesting to have a look at the median line formed by parallels.