I have a couple of reasons to think that bitcoin will correct 5% before breaking to the upside.
1- We bounced at 0.5 of Fibonacci ratio but got rejected by the 50MA.
2- We have been attempting to break the 50MA with very low volume, market appears indecisive at this point.
3- 200 MA is currently lining up with the trend marked by the previous 2 lows.
4- If at this point we fall, we are going to have 3 converging lines being 200MA, golden ratio and trendline.
After this I expect a very strong bounce and finally enough volume to break the 50MA.
Do your own research, good luck
1- We bounced at 0.5 of Fibonacci ratio but got rejected by the 50MA.
2- We have been attempting to break the 50MA with very low volume, market appears indecisive at this point.
3- 200 MA is currently lining up with the trend marked by the previous 2 lows.
4- If at this point we fall, we are going to have 3 converging lines being 200MA, golden ratio and trendline.
After this I expect a very strong bounce and finally enough volume to break the 50MA.
Do your own research, good luck
Not
Let me know your thoughts !
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.
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.