Here is a quick analysis of the 4 hours time frame:
1) We can see the wadge was broken - two green lines, and I have drawn a red line on the top of the box that expresses a side movement of BTC before.
2) Price dropped down to test that red line, and it has done it.
3) BTC is between 100 EMA and MA in the area of possibilities, which means that we can expect some impulse up or down from here.
4) On the Fibonacci retracement, the price almost touched the 0.618 level.
I think the correction movement up is not done yet, and I expect the price to be around 34000 - 35000 and near the - 0.618 zone based on the Fibonacci retracement.
Always Do your own research
May the profit be with you!
1) We can see the wadge was broken - two green lines, and I have drawn a red line on the top of the box that expresses a side movement of BTC before.
2) Price dropped down to test that red line, and it has done it.
3) BTC is between 100 EMA and MA in the area of possibilities, which means that we can expect some impulse up or down from here.
4) On the Fibonacci retracement, the price almost touched the 0.618 level.
I think the correction movement up is not done yet, and I expect the price to be around 34000 - 35000 and near the - 0.618 zone based on the Fibonacci retracement.
Always Do your own research
May the profit be with you!