IBT
March 15, 2024. 15 Minutes.
IBIT
retraced back to 200 averages in 15 minutes time frame. For the rise from 34.03 to 41.99
IBIT
has retraced to 38.2 levels. And for the rise from 37.77 to 41.99 it had retraced more than 61.8%.
So holding 39 resistance can be expected around 41-42 levels.
On the downtrend i expect 37 as a target initially which is 61.8% retracement for the larger rise and 100 average in the 60-minute time frame too. Bias is towards 37 levels initially.