According to the rules, if a market gets rejected at the Fibonacci resistance line, it can regain momentum through a small correction. The condition is that the market must not pull back deeper than the point where the move started.
Unfortunately, this is exactly what happened with Bitcoin (marked by the white line). As a result, we now have to assume the market is building bearish structures and moving towards the range low.
My trade idea is also marked for you. Invalidation would occur with a new higher high.
Unfortunately, this is exactly what happened with Bitcoin (marked by the white line). As a result, we now have to assume the market is building bearish structures and moving towards the range low.
My trade idea is also marked for you. Invalidation would occur with a new higher high.
Here, I share my market outlooks, highlighting key levels and directions I'm watching.
Don't follow blindly; always do your own research.
Don't follow blindly; always do your own research.
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.
Here, I share my market outlooks, highlighting key levels and directions I'm watching.
Don't follow blindly; always do your own research.
Don't follow blindly; always do your own research.
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.