BitcoinDiupdate

Bitcoin Daily Important Retracement Support (+Extension Targets)

Bitcoin is dropping right now so I wanted to share with all my beloved readers and supporters the different Fib. retracement support levels.
  • We are looking at the daily timeframe (D).
  • Each candle goes for 24 hours.
  • Let's get started!!!


Bitcoin (BTCUSD | D) Fib. Retracement Support Levels
1) $5882
2) $5494
3) $5106
4) $4553
5) $3850

How does it work?

- If one level is broken, the next one follows.
For a level to be considered broken the daily candle needs to close below it.

- If the support level holds, a new setup can develop and a change of direction can happen.
For a level to hold, prices need to hit this level, bounce and close above it.

Pretty simple right?

Thanks a lot for reading.

Namaste.
Catatan
Comment Ralferator
"How low do you think will BTC go?"

---
Share your answer in the comments section... Here is mine:

" I am open to multiple scenarios.

We have good chances of making another drop and produce a higher low before resuming up.

There is also a big possibility that prices tank hard/strong before halving... and we also have the Coronavirus situation going on.

The conventional financial markets are collapsing which is a very strong variable, we don't know exactly how Bitcoin will respond but we want it to be strong.

Even if Bitcoin works as a safe-haven it can still drop strong first...

I would say we make another strong drop, still don't know how low, and then we continue printing long-term growth... Higher highs and higher lows.

Namaste."
Catatan
Correction: 12 Hours (720) not Daily (D) timeframe.
Catatan
Altcoins...

DigiByte Conquers EMA50, Bullish Breakout (66% Mapped)
DigiByte Conquers EMA50, Bullish Breakout (66% Mapped)


Streamr DATAcoin Long-Term Targets (618%, 1040%, & 1689%)
Streamr DATAcoin Long-Term Targets (618%, 1040%, & 1689%)


Tutors Diary Becomes Bullish | Possible 500%+ Within 4 Months
Tutors Diary Becomes Bullish | Possible 500%+ Within 4 Months


Streamr DATAcoin BooM! (+185% Today)
Streamr DATAcoin BooM! (+185% Today)


Nuls Can Continue Growing (Over 1770% Mapped Long-Term)
Nuls Can Continue Growing (Over 1770% Mapped Long-Term)
Catatan
🅱️ Bitcoin Can Go Higher ($6645 Possible Next or 6.8k, Short-Term)
Bitcoin Can Go Higher ($6645 Possible Next or $6.8k, Short-Term)


✳️ ICON Next Target Mapped (Full chart Analysis)
ICON Next Target Mapped (Full chart Analysis)


✳️ Morpheus.Network Falling Wedge Breakout
Morpheus.Network Falling Wedge Breakout


✳️ New Kind of Network (NKN) Chart Analysis With Targets (170%+)
New Kind of Network (NKN) Chart Analysis With Targets (170%+)


✳️ Perlin Getting Ready For Action (Short-Term Move Mapped)
Perlin Getting Ready For Action (Short-Term Move Mapped)

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.