BTC - Next move down?
-Hidden bearish divergence (shown in pink)
-Likely to retrace back to the 0.618 fib (~38K)
-This most recent pattern has been Wyckoff (re)Distribution and is a fractal of the previous big run up and sell off.
-If the ~38K level can't hold, I think we'll be headed back on down to the ~
31K area.
-Price may bump back up before the next major leg down, but don't get caught out by that.
Good luck, and have fun.
Note: Don't trade based on my ideas. They're worth exactly what you paid for them. I'm fairly new to this, and my charts are for my own entertainment, education, and record keeping.
-Likely to retrace back to the 0.618 fib (~38K)
-This most recent pattern has been Wyckoff (re)Distribution and is a fractal of the previous big run up and sell off.
-If the ~38K level can't hold, I think we'll be headed back on down to the ~
31K area.-Price may bump back up before the next major leg down, but don't get caught out by that.
Good luck, and have fun.
Note: Don't trade based on my ideas. They're worth exactly what you paid for them. I'm fairly new to this, and my charts are for my own entertainment, education, and record keeping.
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