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Sen_Crypto
Jan 8, 2021 10:36 PM

BITCOIN MACRO VIEW: PRICE AT 1.618 EXTENSION 

Bitcoin / United States DollarCoinbase

Description

BITCOIN MACRO VIEW: PRICE AT 1.618 EXTENSION
In today's content, I discussed the macro structure of btcusd.
Price just hit 1.168 extension of wave1 (3100-13888).
1.618 extension is in general an "Important" directional resistance for wave3.
If price gets "rejected" at 42-44k, bears could look to drag the price down to 2D 21ema, which is a a crucial macro support.
As of now, bulls are still in control, and if bears do not bring a heavy sell volume at ~42-44k range, bulls could force through up to 50K.
Will lets price action to give more data as it is at directional resistance area at the moment.
Comments
Carolcarr
Your work is Very good
Sen_Crypto
@Carolcarr, thanks
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