BTC at a Key Point to Make or Break

Hello There,

Weekly BTC from Bitfinex shows the retracement is little below 38.2%. Now look at the 2017 correction below.

This is on a daily from the Peak of 20k. Price is entering the 38.2% level with past couple days action. This is very important for Bitcoin... For BTC to be bullish, it needs to sustain this level and maintain momentum. When I say this, you don'e necessarily see all green candles... Immediate actions will be, it will raise some looking at other resistances, fall back to test the Support of 38.2 line. Then some sideways action. This is the time it needs to sustain the 38.2 move.

What if it falls back to 50%??
It may not be the end of world... It may take long time to retrace to 38.2 when it finds enough strength.

Now look at the combination of both on daily scale!!!

Look at the current Price in the circle... It is at 38.2 of longer timeframe.

Thanks for reading!!!