BTC has looked strong these last few weeks but took a bit of a retrace in the last 24 hours. We see it right now sitting on the .786 fib level, do you think that will hold? Insidently, that .786 area is also the bottom of the uptrend line of this channel BTC has been in for the last few weeks.
If we don't hold here, we'll drop down to the .618 which is at $8,750 and hopefully we hold there. Alts will continue to take a beating if BTC can't stay above the .786.
Thanks for reading, comment below with your thoughts and I'll respond as soon as possible.
If we don't hold here, we'll drop down to the .618 which is at $8,750 and hopefully we hold there. Alts will continue to take a beating if BTC can't stay above the .786.
Thanks for reading, comment below with your thoughts and I'll respond as soon as possible.
Comment:
Also wanted to mention the bearish divergence on the RSI at the $10k resistance level. Numerous indicators and TA on the chart shows a clear sign of a pull back there at $10k. Things to keep in mind for future trades and potential shorts, all signs are pointing to something.