Hi All,
JUST TO MAKE MYSELF CLEAR - I work for a high frequency trading company and from the indicators and formulas we utilize, there is still a 93% chance of BTC hitting 4.4k. It's just a matter of time.
Most indicators were suggesting the 13th range but after the news for war they are going back and forth but the end result is the same.
The chart above is just one of the many indicators. If you look at the chart, there is a long term trend line started in 2015. And if you plot the fib retracement to where the long term trend line starts and the All Time High, you can see that BTC has now surpassed below the 0.618 retrace @ 7700, meaning - that support has already been broken. The next support WILL be 4.4k!
Taiwan Bear
JUST TO MAKE MYSELF CLEAR - I work for a high frequency trading company and from the indicators and formulas we utilize, there is still a 93% chance of BTC hitting 4.4k. It's just a matter of time.
Most indicators were suggesting the 13th range but after the news for war they are going back and forth but the end result is the same.
The chart above is just one of the many indicators. If you look at the chart, there is a long term trend line started in 2015. And if you plot the fib retracement to where the long term trend line starts and the All Time High, you can see that BTC has now surpassed below the 0.618 retrace @ 7700, meaning - that support has already been broken. The next support WILL be 4.4k!
Taiwan Bear
Too many shorts got squeeze out, I think it will happen again. We might be retesting the top of the downtrend channel.