Fib level 1.618 retracement level setting up on Daily Chart
On the daily chart we are seeing a large body long legged dojo forming. I expect we should start to see some sideways trading before we get some downward pressure.
We have a high chance testing the 1.618 level which means we should be testing the $30,000 price range before we attack back up towards the 2.618 level once again.
Economic pressure across the world will put pressure on the BTC price as we see many individuals and institutions take a profit and lock in some of these massive wins as we enter a new quarter and earnings season. This will assist in the downward push and news of printing more money will mean we see upward pressure towards our 2.618 level($44,000+).
We have a high chance testing the 1.618 level which means we should be testing the $30,000 price range before we attack back up towards the 2.618 level once again.
Economic pressure across the world will put pressure on the BTC price as we see many individuals and institutions take a profit and lock in some of these massive wins as we enter a new quarter and earnings season. This will assist in the downward push and news of printing more money will mean we see upward pressure towards our 2.618 level($44,000+).
Comment:
This is currently playing out as we expected. I do question if we will hit the 1.618 level, but testing $30-31 is not out of the question.