Bitcoin is at a critical level right now which will determine its movement. If the present support at 7000/7100 hold bottom for BTC it will make the Descending triangle forming more stronger and which will possibly break it up.
But if BTC free fall past 7100/7000 level, the first support is at 78.6% fib level at 6525 area to make triple bottom.
This level should provide maximum support for BTC and hold the price.
If the above level fail, the next move for BTC will be to attempt for 100% retracement at 2900/3000.
Entry and exit targets are clearly started on the chart.
BLUE: POSSIBLE ENTRY ZONE
RED: STOP LOSS LEVEL
GREEN: SELL TARGETS
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But if BTC free fall past 7100/7000 level, the first support is at 78.6% fib level at 6525 area to make triple bottom.
This level should provide maximum support for BTC and hold the price.
If the above level fail, the next move for BTC will be to attempt for 100% retracement at 2900/3000.
Entry and exit targets are clearly started on the chart.
BLUE: POSSIBLE ENTRY ZONE
RED: STOP LOSS LEVEL
GREEN: SELL TARGETS
Join our discussion room for more about our trading signals.
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Comment:
Possible wave pattern for short term
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New post created on BTC to follow up the previous analysis, guys do please have a look and leave your comments.
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