Two scenarios here.. but first!
First we touch the fibonacci extension down at .226
From there, I anticipate a bounce up to either the 38%, 50%, or 68% retrace levels of the inverse fib.
From there:
Scenario A: If the 88% level is broken, I think it's safe to say the bottom is in and PERP is now officially back in bullish territory.
Scenario B: If the 88% level is not broken & the price retraces, I think it falls to .068, and THEN at that point, the bearish pattern is broken. Unless another fibonacci sequence materializes somewhere in there.
I personally am leaning towards Scenario B, but I plan to buy the bounce at .226 regardless.
First we touch the fibonacci extension down at .226
From there, I anticipate a bounce up to either the 38%, 50%, or 68% retrace levels of the inverse fib.
From there:
Scenario A: If the 88% level is broken, I think it's safe to say the bottom is in and PERP is now officially back in bullish territory.
Scenario B: If the 88% level is not broken & the price retraces, I think it falls to .068, and THEN at that point, the bearish pattern is broken. Unless another fibonacci sequence materializes somewhere in there.
I personally am leaning towards Scenario B, but I plan to buy the bounce at .226 regardless.
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.