(XBTUSD) Analysis of Rising Perspective
BitCoin BITMEX: XBTUSD is currently undergoing a major convergence from the 1- week scale.
It has risen for a few days to reach a price of $ 6,800, but it has dropped to $ 6,311.
And now, the Fibonacci rate stands at 61.8% digit $ 6,358, showing a decline in trends, and the declining Altcoin showed a rebound. This is a positive aspect from a long perspective.
If you support the position of 61.8%, you can analyze the place to enter the long view by repeating the pattern that you showed from the beginning of September.
However, it should not be overlooked that this pattern may also plummet based on the upward trend in the past.
Then, if the downward pink dotted line) breaks down to one day scale and supports it, we place more weight on the possibility of going up again.
The next target is $ 7,440, the previous high.
This information is to be used for educational purposes only
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