IBIT
March 6, 2024. Started to track this ETF last few days.
For the move from 28.91 to 39.68, IBIT retraced yesterday 50% of the last rise.
Considering the fall of 39.68 to 34.03 uptrend is only above 37.6 levels.
Even crypto I found when too far away from moving averages either goes sideways or retraces.
We have 33 levels as 9 moving averages in daily time frames. Holding that on a retracement target is 38-39 levels as the retrace will be more than 61.8 of the rise.
I would like to watch this for a short around 37 levels SL 38 for a target of 33-34 levels.