tom.farrell85

A case for high and low

HITBTC:BTCUSDT   Bitcoin / Tether
support is broken at approx 8600
next major support level approx 7950-8000
then 7150-7350
potential drop to these lower levels is showing from the rising wedge pattern. BUT, Stoch RSI is in an oversold condition, which could lead to a high target of 10700
Comment: see comment below for update
More evidence supporting the low target of 7150-7350:

Using the fib retracement, you can see that there is support around the 38.2% retracement level. Not so much around the 50% retracement level. And some around the 61.8% retracement level.
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