Hello, so we have strong bearish candle on weekly i'm still overall bullish on bitcoin and crypto market but this pattern must be not ignored, this look like a fake breakout of resistance this is generraly sign a big correction.
It will be very interesting to watch US market open next week the price action will be very important.
Feel to share your thought in comment! Thanks for reading take care!
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if is next weekly candle close below 10k isn't good at all
why is that the target? you're completely ignoring all MAs, and support points and just pointing at a random number
LegoTonix
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@9b77f86306744f84b1521c8201e0c1, This is 61% fibonacci retracement (I don't show to avoid too much information on chart) and previous resistance level hard to see on weekly but on daily is clear.
MYM672
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@LegoTonix alright thanks a lot for the reply! Will need a lot of pressure to go that low but appreciate the analysis