Current 6 HOUR CHART PROJECTION of SUPPORT and RESISTANCE
6 HOUR CHART Projection
I believe if BTC were really going to finish off shaking the smaller fish out, it would've perhaps fallen out of this falling wedge by now, but I could be wrong.
I will have to respect what the Fib is saying too, with regard to where we are right now.
Price has not been able to break back up into the Golden Pocket Fib of the last pivot. That is concerning. I'm not saying it will in fact break down, but the technicals say it may, even though falling wedges usually yield the result of breaking out and up.
But I will say that price has managed to cling just above the white dashed price line of support.
If we do fall from here on BTC, I believe we have a very strong level of support to catch us, which is the other white line below, around 40.5k, and 38.6k is the bottom of that range...
Below are some closer views along with the more zoomed out view of the mentioned areas of support and value.
Be safe out there folks!! Keep your friends close and your stop loss closer!!
- CryptDude (also known as CryptDollar outside the Discord world)
I believe if BTC were really going to finish off shaking the smaller fish out, it would've perhaps fallen out of this falling wedge by now, but I could be wrong.
I will have to respect what the Fib is saying too, with regard to where we are right now.
Price has not been able to break back up into the Golden Pocket Fib of the last pivot. That is concerning. I'm not saying it will in fact break down, but the technicals say it may, even though falling wedges usually yield the result of breaking out and up.
But I will say that price has managed to cling just above the white dashed price line of support.
If we do fall from here on BTC, I believe we have a very strong level of support to catch us, which is the other white line below, around 40.5k, and 38.6k is the bottom of that range...
Below are some closer views along with the more zoomed out view of the mentioned areas of support and value.
Be safe out there folks!! Keep your friends close and your stop loss closer!!
- CryptDude (also known as CryptDollar outside the Discord world)