We draw a fib from 06.04.2018
and a Trend Based Fib Extension from 29.05.2018
As we can see both fibs are almost overlapping! A nice small comformation that we are back into the Bullmarket can be seen between - 7769 - 7823.
The 0.5 Fib lvl is the most powerfull level. Once we have crossed that which is between 8073 - 8226 we can almost talk to be on a healthy way again to suggest btc that the correct is finally over!
But the true level is 8630. if we pass this one -> we are back on track for sure!
Always have in mind that - which is the Green line is a really important tool for us.
Once the 20 ( green line ) crosses the MA 50 ( blue line ) we can say that we are at least for a short term period.
The 200 MA ( purple line ) is from the longterm perspective our next Target. The MA 200 is for us a resistance first - once we close on a 4h above it - it turnes into Support!
Iam quite not sure if this is really holding or if we can expect another dump. But from the perspective right now - even if we go crash even more (200 MA reject us) -> back to market - we can say that there is a small momentum on our site to make some money out of it!