As you can see drawn in the chart, we could potentially see a re-test of the left shoulder as we create an inverse Head & Shoulders.
This level is also coincidental with the 61.8% fibonacci retracement level ($43K), which many call "the point of no return", meaning a breakdown below this level is expected to reach 100% retracement, which is around $29K.
The 50sma is has been working well since the end of October 2020. And will be important to retake if the bulls want to take control.
This level is also coincidental with the 61.8% fibonacci retracement level ($43K), which many call "the point of no return", meaning a breakdown below this level is expected to reach 100% retracement, which is around $29K.
The 50sma is has been working well since the end of October 2020. And will be important to retake if the bulls want to take control.
Nota
The 50% Fibonacci retracement line has acted as support.The right shoulder could hold this level and still form the head & shoulders pattern.
Today's bullish engulfing candle is looking very nice.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.