BTCUSD
Time frame - 1D
CALM YO TITS GUYS! IT IS NOT YET THE END! :-)
- First things first, it ALWAYS respects the 50 period moving average (yellow circles), so you can add that indicator to your charts.
- The price bounced off the strong confluence of fibonacci levels .382 and .236. FIBONACCI WORKS GUYS! Especially when they have confluence like this.
- Re-test of the .236 and .5 fib levels. If the price breaks through above that level, I'd say sky is the limit!
- BUT if it fails to do so, we might see it go down 12k-11k level before bouncing back again.
- The way I see it, the bears always lose the tug-of-war so we might see the rainbow again soon.
GOOD LUCK TRADERS! ;-)