Test of .236 retracement is similar to the move from $5900 low

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
118 0
Hi all

Looking at this chart, we can see that the move from the $5900 bounced off the .236 retracement level on February 11th. This was followed by a slight retracement to the $7900 level, but was followed by a strong move up to $11,700. Considering price bounced off the .236 retracement level in this current bullish move, I'm monitoring to see if BTC follows the same path it did during its last bullish move. I personally want to see the $7800 level hold if BTC doesn't continue upward from here, as that would provide evidence that we're operating in either a range bound or bullish environment.

I'm looking to shave off some of my position at the $11,000 levels, potentially buying back in if BTC breaks the resistance at $11,700 decisively.

Have a great day everyone!
Comment: So far so good — check out how it bounced off the area I highlighted. Let's see if we get some follow through when we hit the .236 retrace again
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out