Hello Traders,
New Thesis on BTC,
Points to consider
- Resistance at $10,800 - $11,000 Zone
- Support at $9000 - $9200
- Stoch on downwards momentum
- RSI on downwards trend respecting resistance
- Bounce from support straight into resistance, .382 Fibonacci Retracement acting as CONFLUENCE
- EMA's acting as support but looks weak
- Volume is declining, signalling a big move is about to come
- Possible falling wedge ( Bullish Pattern), we need more touches to confirm
- Fib-extension targets show a possible retracement to $7918 area
BTC with a high degree of probability is forming a new higher low in this immediate down trend, confirming this will be another touch in the potential falling wedge pattern.
The fib extenuation shows possible targets, only if the pattern is obligated. One major retracement level is the green zone, showing confluence with previous support. This will be a very healthy retracment for BTC, a macro higher lower would be put in..
Will this confirm the bull run?
What are your thoughts?
And remember,
“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
Warren Buffett
New Thesis on BTC,
Points to consider
- Resistance at $10,800 - $11,000 Zone
- Support at $9000 - $9200
- Stoch on downwards momentum
- RSI on downwards trend respecting resistance
- Bounce from support straight into resistance, .382 Fibonacci Retracement acting as CONFLUENCE
- EMA's acting as support but looks weak
- Volume is declining, signalling a big move is about to come
- Possible falling wedge ( Bullish Pattern), we need more touches to confirm
- Fib-extension targets show a possible retracement to $7918 area
BTC with a high degree of probability is forming a new higher low in this immediate down trend, confirming this will be another touch in the potential falling wedge pattern.
The fib extenuation shows possible targets, only if the pattern is obligated. One major retracement level is the green zone, showing confluence with previous support. This will be a very healthy retracment for BTC, a macro higher lower would be put in..
Will this confirm the bull run?
What are your thoughts?
And remember,
“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
Warren Buffett