BitcoinShort
BTC: Key levels to watch in the coming hours
- In the hourly time frame, BTC consolidating and neutral.
- In higher time frame, weekly RSI still oversold at around 80.
- We could see another leg down, possibly to .236 fibonacci retracement level (from bear market low) at around $32,700. If it bounces off that level, that would be a higher low and bullish (maybe waves 1-2).
- If it goes down to the $29,800 support level , BTC could form a head and shoulders pattern. Then, it could go down to the 0.382 fibonnaci levels at $27,000 or an even bearish target to the 0.5 fib levels at $22,400. I think the head and shoulders is the most likely scenario because of the weekly RSI which would form an A-B-C correction.
- In higher time frame, weekly RSI still oversold at around 80.
- We could see another leg down, possibly to .236 fibonacci retracement level (from bear market low) at around $32,700. If it bounces off that level, that would be a higher low and bullish (maybe waves 1-2).
- If it goes down to the $29,800 support level , BTC could form a head and shoulders pattern. Then, it could go down to the 0.382 fibonnaci levels at $27,000 or an even bearish target to the 0.5 fib levels at $22,400. I think the head and shoulders is the most likely scenario because of the weekly RSI which would form an A-B-C correction.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.