BTC weekly

21 Jul 2021

In weekly we have a bullish and a series of smaller bearnish fib channels still in play.
the bullish fib targeting -.236 at 126825 in a pullback with probable bounce back levels at .5 (15661), .618 (11199) and .65 (10226) still untouched.
and the cluster of 3 bearish fib channles with target of 23784 to 25009 zone and probable bounce back levels at .5 (43221 to 44109), .618 ( 47565 to 48310) and .65 (48817 to 49516) also still untouched.

so taking these bounce back levels into consideration, we have 3 possible entry or re-entry for bears and bulls at corresponding fib levels.
always setting stop loss at a quarter to one fifth of the probable profit.



funny to say obvious things but ....not a financial advice :)

22 Jul 2021

Nota

as weekly cant change in a day, we take a look at the 4hr chart now.
the latest fib formation suggest we are in a pullback from the last local high at 32858with possible reversal at our .5 (31016) , .618(30597) and .65(30484) .
target for bulls is 33764 and higher.
but if we fall these values we can fall deep as the descending triangle is upon us
as alway R:R ratio of 4 or 5.

thank you for viewing and giving your opinion.