BITCOIN SELLING PRESSURE CONTINUES
Hello everyone.
Quick update on Btc.. We're piercing important levels without any significant jumps so far.. This makes me think we might be in the impulse wave 3 right now and target for the time being is 1.618 or level just above it.
$7350-7450 are levels to take profits IMO before re-entering higher later on. Final target on this move is $6600-$6200 depending on the exchange you draw the fibs.. On Bitmex and bybit 2.118 is somewhere around ~$6200/6300.
We might see 500-1000$ candle down very soon if we cannot break above that trendline.
For those that do not want to be exposed to high risk of dead cat bounce before any significant drop - then stay away.. We'll have better opportunities to enter.
Not a financial advise. Take care!
Quick update on Btc.. We're piercing important levels without any significant jumps so far.. This makes me think we might be in the impulse wave 3 right now and target for the time being is 1.618 or level just above it.
$7350-7450 are levels to take profits IMO before re-entering higher later on. Final target on this move is $6600-$6200 depending on the exchange you draw the fibs.. On Bitmex and bybit 2.118 is somewhere around ~$6200/6300.
We might see 500-1000$ candle down very soon if we cannot break above that trendline.
For those that do not want to be exposed to high risk of dead cat bounce before any significant drop - then stay away.. We'll have better opportunities to enter.
Not a financial advise. Take care!
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