Hi people, we saw BTC failing to breakout several times, now we are on a critical point the next days.
There are two scenarios
Scenario 1: We going to test the black dashed trendline witch you can see in my chart a third time when there are bulls who push this level we will come up and getting bullish, this will bring us to higher levels.
Scenario 2: We falling from this level at 7600 and have a next bearish move witch will bring us to the 5200 level IF we can not held this level this will bring us to at least 3600.
In my chart you see the BIG fibonacci retracement, it is the fibonacci of the WHOLE cicle with 100 % as 1 USD!
There you can see the 61.8 % mark at 7600 if we hurt and break down this mark the potential is given that we see more selling pressure.
Be aware of it and good luck with your trades.
There are two scenarios
Scenario 1: We going to test the black dashed trendline witch you can see in my chart a third time when there are bulls who push this level we will come up and getting bullish, this will bring us to higher levels.
Scenario 2: We falling from this level at 7600 and have a next bearish move witch will bring us to the 5200 level IF we can not held this level this will bring us to at least 3600.
In my chart you see the BIG fibonacci retracement, it is the fibonacci of the WHOLE cicle with 100 % as 1 USD!
There you can see the 61.8 % mark at 7600 if we hurt and break down this mark the potential is given that we see more selling pressure.
Be aware of it and good luck with your trades.