Looking at the I have a fib extension from the top of the 2017 ATH (20K) and if you look it has played these Fib extension levels like a champ!
Currently I am seeing lower highs and lower lowers forming from its prior 42K top I could see BTC pump up to the 35K range and ideally get rejected form the downward trend line which might be a good potential for a short term short.
Target downward to the 1.38 fib or 27,500.
If BTC breaks above and holds above the 35K area then the trend pattern has changed.
If BTC post a HIGHER LOW IE 29K or higher then the pattern has changes.
This could be the range of sideways trading that we have been waiting for for the first alt season to take place till is coils to the end of the triangle.
Lets see what happens and best of luck!
Currently I am seeing lower highs and lower lowers forming from its prior 42K top I could see BTC pump up to the 35K range and ideally get rejected form the downward trend line which might be a good potential for a short term short.
Target downward to the 1.38 fib or 27,500.
If BTC breaks above and holds above the 35K area then the trend pattern has changed.
If BTC post a HIGHER LOW IE 29K or higher then the pattern has changes.
This could be the range of sideways trading that we have been waiting for for the first alt season to take place till is coils to the end of the triangle.
Lets see what happens and best of luck!