Hey traders,
In the previous analysis, we were expecting bitcoin to move up from 0.5 - 0.618 fib levels. But what has happened is that price made a deep retracement towards 0.88 fib, which is good for us. why?
The 0.88 fib level is very close to the low = tight stoploss = higher Risk to reward = Big gains
LONG Setup:
- Watch the break of the descending blue trendline
- Wait for a retest or a pullback for entry
- Stoploss: Below 0.88 fib or below the recent low
- Targets: 76k, 80k, 87k, 96k and 99k.
Good Luck and trade Safe