BitcoinPembelian
Golden 61.8% Fibonacci Ratio Takes Us To $20.5K
Diupdate
This Bull Flag is a continuation pattern of the upward trend.
Upward Continuation Criteria
- Lower trend line of the Bull Flag holds and price continues to go up, we'll continue our journey to the next 61.8% Fibonacci Level at $20,500-ish.
Downward Continuation Criteria
- Lower trend line of the Bull Flag is breached. But if the price gets supported at either the Support Line #1 at $8,500 or Support Line #2 at $7,200, we'll form a Descending Broadening Channel (created by green dotted trend line) which is a Bullish Pattern. We might bounce off of it and continue up to the $17,970-ish level (138.2% Fibonacci Level).
Only time will tell.
Always remember to place your stops at the appropriate levels.
Happy Trading Everyone!
Ron
Check out the broader view of the Fibonacci Circle:
Check out the short term outlook:
Upward Continuation Criteria
- Lower trend line of the Bull Flag holds and price continues to go up, we'll continue our journey to the next 61.8% Fibonacci Level at $20,500-ish.
Downward Continuation Criteria
- Lower trend line of the Bull Flag is breached. But if the price gets supported at either the Support Line #1 at $8,500 or Support Line #2 at $7,200, we'll form a Descending Broadening Channel (created by green dotted trend line) which is a Bullish Pattern. We might bounce off of it and continue up to the $17,970-ish level (138.2% Fibonacci Level).
Only time will tell.
Always remember to place your stops at the appropriate levels.
Happy Trading Everyone!
Ron
Check out the broader view of the Fibonacci Circle:
Check out the short term outlook:
Catatan
Check out the short term outlook: Catatan
Price is still ranging at the 61.8% Fibonacci level and Bitcoin has the potential to launch from this level. Accumulation phase is almost complete. Bullish signals are firing now.
Warning! Never dismiss the possibility of a break to the downside.
Warning! Watch out for the FU move.
Best strategy for any scenario:
1. Place a trailing stop loss.
2. Never trade before the breakout!
Happy Trading Everyone.
Ron
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.