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RSibayan
Jun 6, 2021 10:34 PM

Bitcoin - Range Bound Long

Bitcoin / United States DollarCoinbase

Description

Bitcoin is range bound at the 50% level fo the Fib Ret tool.

Now watching the GREEN trend line (support).

If Bitcoin breaches it then another leg down towards possibly @ $27.175 @ the 61.8% Fib Ret tool

If GREEN support trend line holds, the red bar is the expected target @ about 41.3K

Further rise in price could take Bitcoin back up to 48.3K towards the local 61.8% Fib Ret tool

Note: Crypto Fear and Greed index is at 17%, last week it was at 10% but no further dumping or capitulation has occurred. Nevertheless, always be vigilant as to what Bitcoin might do this week.

Have a great start of the week!

More power to all your trades, my friends!

Ron
Intrepid_Trader

Comment

Comments
BurakB_
Red arrow. Nice chart.
RSibayan
@Burakb1, Thanks for viewing my post and for commenting.
RSibayan
@BurakB_, More power to all your trades.
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