Hello traders,
Here we go again with the latest update from bitcoin.
I see it as follows:
It seems that bitcoin broken down from symmetrical triangle and now it's lower wall became a resistance. We bounced back to it and then straight down. If that is the case, we might see a move to the downside to 0.5 fib at around 42.5k.
However, if bitcoin is forming some kind of bullish flag, we might bounce of the lower flag wall which also corresponds with 0.382 fib ratio.
Nonetheless market does what it does and it might not reach any of these levels and bounce back.
Good luck traders.
Here we go again with the latest update from bitcoin.
I see it as follows:
It seems that bitcoin broken down from symmetrical triangle and now it's lower wall became a resistance. We bounced back to it and then straight down. If that is the case, we might see a move to the downside to 0.5 fib at around 42.5k.
However, if bitcoin is forming some kind of bullish flag, we might bounce of the lower flag wall which also corresponds with 0.382 fib ratio.
Nonetheless market does what it does and it might not reach any of these levels and bounce back.
Good luck traders.