Hello Friends,
I would like to start by saying this, please do keep in mind we are still in a bearish trend. Unless we have some daily candles and weekly candles close as green we are not going to see long term bullish action soon.
That said as you can see in the chart the next fib level is at $7234. The price could go down once it reaches that. however imo it will try to go to next fib level i.e. $7734. We seen it tries do touch 0.34 fib level before but the prices went down after touching $7.5 The same could happen here.
So short term i.e. for next few hours price could go up to $7.2k. once it reaches there it will try to come back to $6.4k or try to go back up to next fib level at 7.7k. Please be careful when trading and never put yourself at risk i.e. do not put in more monies than what you can loose.
Happy Trading Folks!
Note: This is for education purposes only.
I would like to start by saying this, please do keep in mind we are still in a bearish trend. Unless we have some daily candles and weekly candles close as green we are not going to see long term bullish action soon.
That said as you can see in the chart the next fib level is at $7234. The price could go down once it reaches that. however imo it will try to go to next fib level i.e. $7734. We seen it tries do touch 0.34 fib level before but the prices went down after touching $7.5 The same could happen here.
So short term i.e. for next few hours price could go up to $7.2k. once it reaches there it will try to come back to $6.4k or try to go back up to next fib level at 7.7k. Please be careful when trading and never put yourself at risk i.e. do not put in more monies than what you can loose.
Happy Trading Folks!
Note: This is for education purposes only.