ronniesen

Fibonacci projection to next level

Long
BITSTAMP:BTCUSD   Bitcoin
Past BTCUSD price movement has followed Fibonacci extension pattern (see pt. 1 on chart). The next expected level (see pt. 2 on chart) is around $76k. Look for movement to this area before another significant pullback. Look to other indicators to confirm pattern -- e.g., MACD, RSI.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.