BTC/targeting $14.5k - Bearish - Raising Wedge (fibonacci)
You propably have heared already about BTC dropping to price around $14.000,
technicaly this is supposed to happen as Raising Wedge after "falling trend" predicts drop of a price once its gonna give up to one of the Fibonacci Retracement Level (0.618 or 0.5 or 0.382).
Good option i could suggest would be observing Higher Highs and Higher Lows if they break and turn into Lower Highs and Lower Lows (that scenario would turn recent BULLISH trend on BTC to BEARISH)
Recently we have tested second - Fibonacci Retracement level (0.5)
the next one is going to be (0.382) and then possible drop max drop range might reach down to $14500
Before going down to $14500 we are going to test $17500 (strong support which stopped bearish mid term market).
Even though, with High enough market liquidity that trend could turn into something more positive, and i have little hope that recent HYPE PUMP on ETH will turn this scenario into LONG TERM BULLISH MARKET.
technicaly this is supposed to happen as Raising Wedge after "falling trend" predicts drop of a price once its gonna give up to one of the Fibonacci Retracement Level (0.618 or 0.5 or 0.382).
Good option i could suggest would be observing Higher Highs and Higher Lows if they break and turn into Lower Highs and Lower Lows (that scenario would turn recent BULLISH trend on BTC to BEARISH)
Recently we have tested second - Fibonacci Retracement level (0.5)
the next one is going to be (0.382) and then possible drop max drop range might reach down to $14500
Before going down to $14500 we are going to test $17500 (strong support which stopped bearish mid term market).
Even though, with High enough market liquidity that trend could turn into something more positive, and i have little hope that recent HYPE PUMP on ETH will turn this scenario into LONG TERM BULLISH MARKET.
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