Been shorting BTC from 28.000s, and current nearest support on weekly chart is at 17.300. Not saying it will definitely go there as there are many factors affecting price, but from the technical side, it is what it is.
Here we have a bearish Gartley pattern completed. Ideally, the D leg should complete at around 0.786 of X - A. on this pair, it goes slightly higher. I draw the Fibonacci extension from the swing low to B point to get a clearer projection of where it may complete. as shown in the picture, currently price is at 1.272. This area could be a reversal zone for this...
This pair has been in downward move recently, and now is currently at 0.886 Fibonacci retracement level. If price stays above this level, it could be a completion of leg C of bearish butterfly pattern, where point D should be completed around 0.75900 area or at 1.618 Fibonacci extension.
Potential long trade on this pair as it has been ranging (1H), and retracing at 0.886 fibonacci level. There are other factors to consider in taking long setup which is an oversold RSI, and the price action, where there is a pinbar formation rejecting the current fibonacci level which act as a support zone. Stop loss is placed below the recent low around 94.900...
