Hello everyone on update to my previous analysis.
First I would like to mention that retracement from 73 sat doesn't surprise me as I have pointed out before this level as potential resistance. But you may be asking what can be the next move? So this analysis is to show you 3 different scenario that may happen in following days.
1. Price will decline to 61-63 are where we will have a big of consolidation (accumulation ) from where we may go UP to 79-80 sat area where lies another small resistance. From this level we may have a retest of 66 sat and than move above 80 sat. (remember about 78.6 fibonnaci levels where some action may occur this level is at 87 sat)
2. Price will consolidate around 65-67 sat and will go UP to 79-80 area from where we will have a decline to around 61-63 sat. After which we will be on the way to around 100 sat. (remember about 78.6 fibonnaci levels where some action may occur this level is at 87 sat)
3. Price will break thru 73 sat area and continue rally to 79-80 are from where we will have a small pullback to 71-73 sat and further upside to 100 sat area. (remember about 78.6 fibonnaci levels where some action may occur this level is at 87 sat)
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
"A is for my attitude working through the patience
Money comes and goes so the M is for motivation
Gotta stay consistent, the P is to persevere..."
First I would like to mention that retracement from 73 sat doesn't surprise me as I have pointed out before this level as potential resistance. But you may be asking what can be the next move? So this analysis is to show you 3 different scenario that may happen in following days.
1. Price will decline to 61-63 are where we will have a big of consolidation (accumulation ) from where we may go UP to 79-80 sat area where lies another small resistance. From this level we may have a retest of 66 sat and than move above 80 sat. (remember about 78.6 fibonnaci levels where some action may occur this level is at 87 sat)
2. Price will consolidate around 65-67 sat and will go UP to 79-80 area from where we will have a decline to around 61-63 sat. After which we will be on the way to around 100 sat. (remember about 78.6 fibonnaci levels where some action may occur this level is at 87 sat)
3. Price will break thru 73 sat area and continue rally to 79-80 are from where we will have a small pullback to 71-73 sat and further upside to 100 sat area. (remember about 78.6 fibonnaci levels where some action may occur this level is at 87 sat)
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
"A is for my attitude working through the patience
Money comes and goes so the M is for motivation
Gotta stay consistent, the P is to persevere..."