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BTC 1 hour - Building for the Bull Run with important Fib points

157
Major Fib's - Pink and Gold
Working Fib - Green
Minor Fib - Blue

First the Bad News......
Downtrend probably continues when price breaks down past Working "Green Fib line 0.5" and Major "Pinks' Fib lines 0.382 & 0.236".

Now for the Great Bull News....
Price's recent 7.47 % move placed us in a defined Neutral Trading Zone of a giant: -- 17.18 % Trading Range.
Define Neutral Zone: 17.18 % --- Visually between the Major "Pink Fib" lines 0.382 - 0.5

In order to even think we are "heading out" of a bear trend we must exit this neutral zone upwards, and some major goals listed below need to take place.

Bullish near term goals are:
Price action is fluctuating above Working "Green" 1.000 Fib line, and/or above the "diagonal pink inserted line"
A bullish help is to have price stay above the Major "Gold" 0.382 Fib line, which price is currently testing.
A bullish help is to have price stay above the Working "Green" 0.786 Fib line.

The Best Case bullish goals are:
A bullish goal is to have price reach 17.70 % to the Working "Green" 1.618 Fib line.
A bullish goal is to have price sustain a new support at the Major "Pink" 0.5 Fib line

Disclaimer: I currently hold Long positions on margin. I trade both Bear and Bull trends

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.