4h Chart may indicates a raising wedge pattern which is forming a potential right shoulder.
According to fib-levels starting from $3.1k to the head $9.1k:
If H+S pattern gets confirmed, BTC could retrace to $6.1k (50%) and $5.4k (61%).
Also note that BTC crossed and closed below the 21 EMA for the first time several days ago.
According to fib-levels starting from $3.1k to the head $9.1k:
If H+S pattern gets confirmed, BTC could retrace to $6.1k (50%) and $5.4k (61%).
Also note that BTC crossed and closed below the 21 EMA for the first time several days ago.
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Updated idea:
