BTC has many fibs lining up in the same place - at 20,850. That is the 1.414 of AC, the 1.272 of OC, the Elliot Wave impulse of 2.14, and also this same level 20,850 is the 0.236 fib from 25,188 to current support (19.5k).
It would be a good idea to short this level if it hits. I expect a bounce (or drop) from 20,550 which is the 1.618 impulse from the bottom.
The target of the Short to then flip LONG is 18,950. Then we can continue to trade the channel.
It would be a good idea to short this level if it hits. I expect a bounce (or drop) from 20,550 which is the 1.618 impulse from the bottom.
The target of the Short to then flip LONG is 18,950. Then we can continue to trade the channel.
Commentaire:
Likely Wyckoff Reaccumulation here - bots tryna push it up to 20.5k - 20.8k
