Bitcoin Easy, Short-Term: 4H Timeframe (Lower High)

29 Sep

➢ Bitcoin (BTCUSD) produced a high on the 29 of July. This is our relative high.
After two months, Bitcoin produced a lower high, 27-September.

➢ On the 5th of August, Bitcoin produced a major low. This is our relative low.
After two months, Bitcoin can produce a lower low; lower highs can lead to lower lows.

The potential target for this low is mapped on the chart.

👉 This target based on Fibonacci retracement reads $43,800.
The main support range for the next drop sits between $44,000 and $40,000.

Thank you for reading.

Namaste.