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FiboSwanny
May 12, 2019 4:41 PM

Shallow Fib hold = bullish $BTC trend and new highs ahead Long

Bitcoin / United States DollarCoinbase

Description

Getting a correction is needed, but also a shallow retracement with a support hold at the 38.2% level is a sign for more highs ahead.

As the RSI drops back below the overbought condition line, selling interest continues. The last time this happened the 38.2% level held and after a period of consolidation the market kicked to new highs.

Internal indication looks for a repeat of that as the near-term trend momentum remains with the bulls.

Buy dips.. happy trading! $6581 is the level that should hold... otherwise wait for 5900ish before adding longs.

The full retracement to 8500 is still in play!



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