We touched the 0.168 on the Fib retracement.
This could be a nice LONG opportunity. But be careful as it may have fakeouts.
0.168 is a very important level especially in Crypto. It's very respected.
!! Not financial advice !!
If the current channel breaks, then I'm looking for the head&shoulders pattern to play out.
I have a short term support area which we could bounce of short term, But then I'm looking for a buy in the Golden Buy Zone :)
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First of all, this parabola is purely based on the last low we had, but it can still be redrawn.
This is an overall prediction of where the market could go.
A short term dip from here is possible to let the oscillators cool down for another try to the upside.
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Red dotted trendline is up and that is currently the bigger trend. We also have a downwards trend in dotted white, which can break out to the upside at any moment.
Currently I'm expecting a consolidation sideways (Or maybe little bit down around the 8000 level)