Hi fellow traders,
Bitcoin had a good rally and is starting to retrace. Looking at a 2h chart, I expect it may retrace down to right above .618 fib level where we had a resistance on Apr. 4th (+9 GMT). This area is also right above the downtrend line, so it would be a good chance to test the trendline. I think this would be a reasonable and healthy correction unless manipulated. Any thoughts and comments welcome.
Happy trading!
Bitcoin had a good rally and is starting to retrace. Looking at a 2h chart, I expect it may retrace down to right above .618 fib level where we had a resistance on Apr. 4th (+9 GMT). This area is also right above the downtrend line, so it would be a good chance to test the trendline. I think this would be a reasonable and healthy correction unless manipulated. Any thoughts and comments welcome.
Happy trading!
Comment:
Aaaah! I marked it, but doubted it. The small second bull flag played out after all. Nevertheless, I do not think this will go too far, yet interesting to see how far Bitcoin can go.