Looking at the daily chart of BTC, it looks like the price needs to decide which way it wants to go:
1. If the price breaks the 61% Fib level, I think it is safe to say that we have entered another uptrend
2. but if the price breaks the 38% Fib level, I would adjust my trades to be more short positions rather than long ones.
In the meanwhile, it's good to trade between these 2 levels until either one of them breaks.
1. If the price breaks the 61% Fib level, I think it is safe to say that we have entered another uptrend
2. but if the price breaks the 38% Fib level, I would adjust my trades to be more short positions rather than long ones.
In the meanwhile, it's good to trade between these 2 levels until either one of them breaks.
Comment:
looks like the price has decided to go up, although there is still 17h for the daily candle to close but it looks promising
Comment:
just after the price broke the 38% level it has fallen more than 30% downward
Trade closed: target reached