BTC - Next move down?
-Hidden bearish divergence (shown in pink)
-Likely to retrace back to the 0.618 fib (~38K)
-This most recent pattern has been Wyckoff (re)Distribution and is a fractal of the previous big run up and sell off.
-If the ~38K level can't hold, I think we'll be headed back on down to the ~
31K area.
-Price may bump back up before the next major leg down, but don't get caught out by that.
Good luck, and have fun.
Note: Don't trade based on my ideas. They're worth exactly what you paid for them. I'm fairly new to this, and my charts are for my own entertainment, education, and record keeping.
-Likely to retrace back to the 0.618 fib (~38K)
-This most recent pattern has been Wyckoff (re)Distribution and is a fractal of the previous big run up and sell off.
-If the ~38K level can't hold, I think we'll be headed back on down to the ~
31K area.-Price may bump back up before the next major leg down, but don't get caught out by that.
Good luck, and have fun.
Note: Don't trade based on my ideas. They're worth exactly what you paid for them. I'm fairly new to this, and my charts are for my own entertainment, education, and record keeping.
Penafian
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