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MMBTtrader
Oct 22, 2021 7:51 AM

BTCUSD can fall more new resistance zone formed here ย Short

Bitcoin / U.S. dollarBitstamp

Description

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As we can see price started to dump after hitting new ATH and now we can expect more fall here and targets like:
A. 60000$
B. 57000$
C. 54000$

Notice: for the continuation of fall we need the 0.61% Of Fibonacci resistance level to remain valid else the market may receive high volume and maybe even previous ATH and new ATH is ahead.

DISCLAIMER: ((trade based on your own decision ))
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Comment

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Daily channel:

Trade closed: target reached

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Target A reached 60000$
Comments
robins916
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You on the mark. Needs to rest and then continue to climb into Q4. Just time the dip, capitalize.
JExtra7
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Have a feeling we might hit 57-52K before blast off. If it does happen then that's where I'll ape into alts :)
ghostrick11
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hopefully it hits close to the 50k area along with the 50d ma on daily timeframe and 200 day ma on 4h timeframe all located somewhat close to there along with the 50k support which can be a good chance to buy more, sitting on sidelines now for the fall. it looks like the retracement is still going to happen, we shall see. the green support box at 54000 that you marked on your chart can also be good support
BizzarTrading
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@ghostrick11 exactly
CipherCrypter
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52-54 must go before any bull run to ATH.
CatTrap
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The shake out will test many, so overdue but it's here
Pi314159265359
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Agree, but a deeper correction is also possible.
PolarHusk
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Very nice potential correction area. thanks
ikenney110
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So far playing out nicely. Great analysis.
financialFalco59605
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thanks for you
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