Fibonacci retracement tool and trendlines were greatly implemented in analyzing this one (1) week candlestick timeframe (TF) chart.
A new support line is drawn to which was respected. FIB3 and FIB4 are also redrawn. We therefore have a new FIB4 take profit zone, but before smashing that price, we should be looking forward to a crazy reaction at FIB4 50.0% zone and its 100.0& zone.
The support line will be considered invalid if it is successfully broken to the downside with a close of a candlestick.
Either FIB3 and FIB4 will be considered invalid if price drops below 100.0% and 0.00% respectively.
Kindly note this is not a signal group. This article is for educational purpose and not a financial advice. As we know, the cryptoverse is a highly volatile ecosystem. Do your due diligence.
A new support line is drawn to which was respected. FIB3 and FIB4 are also redrawn. We therefore have a new FIB4 take profit zone, but before smashing that price, we should be looking forward to a crazy reaction at FIB4 50.0% zone and its 100.0& zone.
The support line will be considered invalid if it is successfully broken to the downside with a close of a candlestick.
Either FIB3 and FIB4 will be considered invalid if price drops below 100.0% and 0.00% respectively.
Kindly note this is not a signal group. This article is for educational purpose and not a financial advice. As we know, the cryptoverse is a highly volatile ecosystem. Do your due diligence.
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Support Trendline didn't hold.