Part 1
Let's analyze the weekly btc chart.
First we analyze the fib.
after btc reach 52-53k zone. We have seen a reversal signal.
we set as fib 0.
look at the chart. strong resistance is at fib 0.6.
price is reacting at fb 0.2 but i think price will keep going down till fib 0.5 and 0.6
if price reacts strongly in fib 0.6 area. Double bottom pattern is formed. This is a balanced double bottom pattern. The price will have an upward signal.
but if the price breaks through the fib 0.6 area, I think the price will drop to the 0.7 zone, maybe 1.
Now what we need to do is wait for the next price wave. Do not buy at this time.
I will update more in the coming weeks.
Let's analyze the weekly btc chart.
First we analyze the fib.
after btc reach 52-53k zone. We have seen a reversal signal.
we set as fib 0.
look at the chart. strong resistance is at fib 0.6.
price is reacting at fb 0.2 but i think price will keep going down till fib 0.5 and 0.6
if price reacts strongly in fib 0.6 area. Double bottom pattern is formed. This is a balanced double bottom pattern. The price will have an upward signal.
but if the price breaks through the fib 0.6 area, I think the price will drop to the 0.7 zone, maybe 1.
Now what we need to do is wait for the next price wave. Do not buy at this time.
I will update more in the coming weeks.