emrelg

Bitcoin Minor And Major Fibonacci Trend Line !

BITMEX:XBTUSD.P   Bitcoin
Hey there as you know today is a really interesting day, actually all weekend is like that (Bloody Sunday) Im not suprise anymore about this action. My opinion is this range non trade zone because technic analysis formations not working good (hs and ihs especiallyl) as you can see blue arrow is where is price reaction coming, confirmation about the come the gray line (Gray line still hold the price carefully that area)
If you zoom in you can see clearly we are safe while to we stay gray major fib trendline and total 2 hit fibonacci 161.80 its really good signal.
I would like to draw your attention to the head-to-shoulder formation in the big picture, I hope that doesn't happen, but if it does, it's time to turn off the lights for bitcoin. As long as we don't close below the major fib trendline in the daily process, I think it's okay, stay safe.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.