BTC is now holding its position above .618 fib level after touching it and forming a large wick which shows that large buying pressure is present at the price point.
But BTC may be going lower to test .5 fib or at least consolidate at the moment as we saw that the MACD indicator has just started to print its downward momentum.
I would sit on the sideline and observe BTC a little longer until BTC forms a reversal where the MACD signal line turns to the upside in the daily timeframe.
Happy trading
But BTC may be going lower to test .5 fib or at least consolidate at the moment as we saw that the MACD indicator has just started to print its downward momentum.
I would sit on the sideline and observe BTC a little longer until BTC forms a reversal where the MACD signal line turns to the upside in the daily timeframe.
Happy trading
