A few days ago I drew a scenario where I see a buying opportunity when the price goes above $45. The price has moved above this resistance today. Not very extreme, but in an interesting way.
Fib confirmation
The Fibonacci level is between .649 and .81. Combine this with other factors (see drawing) and I expect an increase to $68. I have a spot trading for longer-term and a leverage position as in the chart.
Risk
The disadvantage is that there is no uptrend yet so that consolidation can continue. Always do your own research and have good riskmanagement.
Fib confirmation
The Fibonacci level is between .649 and .81. Combine this with other factors (see drawing) and I expect an increase to $68. I have a spot trading for longer-term and a leverage position as in the chart.
Risk
The disadvantage is that there is no uptrend yet so that consolidation can continue. Always do your own research and have good riskmanagement.