Read an article about btc being run all the way back to 5000 to 100 dollars. i though how did they come up with this. Then i pulled fibs off my 1 week 200 sma (18k) and the ic cloud 1 week support (35k) and it showed me exactly how that drop could happen. here is a portion og that chart that has played out. 42k has been building up resistance we need buyers above 40k the 4.236 fib above us. If we lose 35k and retest 33k ill be looking for an under test with a possible retrace back to the break out trend of 28k. if we lose 28k im looking for a 200sma test around 18k. if we push under the 200sma and sell off on the retest im looking for a 7k test with a possible 3k clean up
Thanks and well done on sharing your first post with the community. We hope you enjoyed the challenge. If you need any help, feel free to reach out. From mod @zAngus
From mod @zAngus