Bitcoin Retracement Phase Now But $9.5K Soon If It Does This
38.2% Fib Level is a common area of price reversal. If price does bounce off today from this level then the upside potential target is $9.5K
In the very short term, more bullish price action if 38.2% Fib level holds support.
Price has already tested this level with a Double Bottom.
More tests of this level will break it and more dipping in price can be expected.
Price is below the 20W EMA (White Line) and 20D EMA (Light Blue Line). Price must push up above these EMAs for more bullishness.
If price dips down further, 61.8% Golden Fib Level is the area of support for Bitcoin at $7466.
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Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
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More Power To All Your Trades,
Ron (The Intrepid Trader)
In the very short term, more bullish price action if 38.2% Fib level holds support.
Price has already tested this level with a Double Bottom.
More tests of this level will break it and more dipping in price can be expected.
Price is below the 20W EMA (White Line) and 20D EMA (Light Blue Line). Price must push up above these EMAs for more bullishness.
If price dips down further, 61.8% Golden Fib Level is the area of support for Bitcoin at $7466.
===============================
Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Comment:
Bigger Picture
Comment:
An even bigger picture:
Comment:
Price passed the 38.2% Fib and now headed for $7.6K.
Comment:
On the 3 Hour Chart, Bitcoin is meeting up with the 20W EMA, and may find support from this moving average level. Failure to hold support at this level will take Bitcoin down to the 50% Fib @ $7659 and eventually down to the 61.8% Golden Ratio Fib Level.
Comment:
The 20 Week EMA held support, price is now pushing back up.
Comment:
Bitcoin re-testing the 20 Week EMA.
Comment:
Bear Flag.... Now looking at $9.3K
Comment:
First order of business... get passed the 200 Day EMA.
Comment:
Price is above the 200D EMA and the 55 Day EMA.
The next bull run may have already started.
Price must remain above the 55D EMA to maintain the bull run.
The next bull run may have already started.
Price must remain above the 55D EMA to maintain the bull run.
This level could now possibly serve as support for Bitcoin.