بتكوينشراء
Bitcoin #BTCUSD Correction Target 30000
Bitcoin #BTC has dived as far as -20% at the time of this writing from a high of 42000 on 1/8.
The whole market was way overdue for a real correction and I believe this is it. Surprisingly I also think we have already hit the extent of that correction around the 29500-30500 mark.
As you can see from the chart there is a confluence of support here. You can see a couple days of support between 1/4-1/5.
In addition, the 0.5 Fib retrace is 29784 and the HA(R1) is at 30763. Normally I would look for the 0.618 fib retrace here, but Bitcoin has been getting a lot of attention and I think a bounce of this support area would signal to many people that its a place to buy. There is a lot of support sitting around the 0.618 at 26902, both in previous patterns as well as the HA(P+R1). I do not expect it to fall farther than this.
This is looking like Wave 2 of a larger degree series, and as such could fall further, but I dont expect it to fall below the 25287 Monthly Pivot.
Disclaimer: Dont follow the advice of random people on the internet. This is a hobby of mine. I do actively trade crypto, but I am by no means an expert.
The whole market was way overdue for a real correction and I believe this is it. Surprisingly I also think we have already hit the extent of that correction around the 29500-30500 mark.
As you can see from the chart there is a confluence of support here. You can see a couple days of support between 1/4-1/5.
In addition, the 0.5 Fib retrace is 29784 and the HA(R1) is at 30763. Normally I would look for the 0.618 fib retrace here, but Bitcoin has been getting a lot of attention and I think a bounce of this support area would signal to many people that its a place to buy. There is a lot of support sitting around the 0.618 at 26902, both in previous patterns as well as the HA(P+R1). I do not expect it to fall farther than this.
This is looking like Wave 2 of a larger degree series, and as such could fall further, but I dont expect it to fall below the 25287 Monthly Pivot.
Disclaimer: Dont follow the advice of random people on the internet. This is a hobby of mine. I do actively trade crypto, but I am by no means an expert.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.