Retracement condition : 1) BITCOIN candlestick has break down Level-2 of Declining Stage (i) and is now going down further to Level-3 (J)
2) FundFlow+ indicator - Break-down 5-day moving average and flowing beneath zero-value (negative flow)
Support & Resistance: S : 30221 (-14.63%) R : 40043 (+12.87%)
Remark: - Analysis on 11th Jan 2022 has failed to achieve a greater rebound, it reached resistance from a greater neckline (N2) and pull back.
- It has rebound only from 41458.47 (last price in my analysis) on 11-Jan to highest 44500.00 on 13-Jan (Max +7.34%)
- As you see from the chart analysis, neckline 1 (N1) has 3 levels (BLUE ARROW) while neckline 2 (N2) has 1 level (RED ARROW) with longer extent to (possible) 16527
- Length of AB=CD and EF=GH=Hi=iJ
DISCLAIMER: Analysis above SOLELY for case study purpose. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.