BTCUSDT Fibonacci Analysis

13 nov. 2021

Just now, compared Fibo on Two different Levels of BTC to validate the current move and found out that, with Previous High as 52920 and Low as 28805, we satisfy the current BTC Resistance Level at 161.8%.

If then recalculated from its current Top at 69000 and Low at 39600, we get a fair support at 54300.


Previous High was 52920 (Approx. 53000) and New Fibo Suggests a Strong Support at 54300, thus we can conclude that (53000 + 54300)/2 = 53650 can be our point of contact for BTC if it starts falling from here.

If BTC Retraces to the said level of 53650 we will still be in a Bull Market and BTC would then have retraced properly.

This in turn also indicates that our previous Support of 61k (being hopeful) and bottom support at 57k might not hold for long, and eventually break down.

Additionally as per Macro analysis on BTCUSD (Using Bitstamp Data) we get Support at 51k, which again is doable. but in this case we will consider the macro scenario as the last support for BTC.

Summary:
1st Support: 61k then we go back to 65k and 75k(if bulls take over the momentum and stretch it to 75k levels).
2nd Support: 57k, we then go back to 61k first and 65k if we are lucky
3rd Support: 53650 then we go back to 57k and 61k starting a new Bull Period.
4th Support: 51k then we go back to 54k and 57k from here and 3rd support scenario will continue.
5th Scenario: Beginning of New Bear market!

19 nov. 2021

Transaction en cours

2nd Target Achieved, and heading for the 3rd Support level at 53600.

NOTE: BTC is highly bearish at present and it is not recommended to be struck on one certain level of SUpport.

Price Action plays a vital role in Market, and the current Price action is not in our Favor.

Try to AVG out your position after every $5000 drop!