MARKET DIRECTION REVEALED HERE!
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BTC.D is at support, we saw what happened on May 19, we rejected the support and we saw a big correction. Here we are at support again, 42.7-43%, if we reject this level which is in confluence with the 78.6% of the Fibonacci Retracement, then we could see another dump from the market.
However, if we break below it, we will see a rise and we may see BTC.D at the 40%support level again, and BTC should hit our targets 42k, 44k and even more.
Keep in mind we could consolidate a little, we don't need to see a fast move.
Explanation: This happens because when we see here BTC.D drop, it means BTC is going up, but why? Remember, here when we see BTC move 5% up, alts move 20% +, not all of them of course. This leads to the % change of BTC increasing but the % change of Alts increasing even more at a faster rate. So in general, we would see BTC.D going down. The opposite is also correct.
...................................................................................................................................................................................
What do you think?
Good luck traders,
Not financial advice
Manage risk and leverage
DYOR
NajjarTrading
WHY FOLLOW?
• 4 Years of experience
• Daily trades
• Daily updates
• Best Entry Points
• Important Zones
• TP/SL
...................................................................................................................................................................................
BTC.D is at support, we saw what happened on May 19, we rejected the support and we saw a big correction. Here we are at support again, 42.7-43%, if we reject this level which is in confluence with the 78.6% of the Fibonacci Retracement, then we could see another dump from the market.
However, if we break below it, we will see a rise and we may see BTC.D at the 40%support level again, and BTC should hit our targets 42k, 44k and even more.
Keep in mind we could consolidate a little, we don't need to see a fast move.
Explanation: This happens because when we see here BTC.D drop, it means BTC is going up, but why? Remember, here when we see BTC move 5% up, alts move 20% +, not all of them of course. This leads to the % change of BTC increasing but the % change of Alts increasing even more at a faster rate. So in general, we would see BTC.D going down. The opposite is also correct.
...................................................................................................................................................................................
What do you think?
Good luck traders,
Not financial advice
Manage risk and leverage
DYOR
NajjarTrading
Trade chiuso: obiettivo raggiunto:
As expected, we rejected the support and till then, Bitcoin has been moving down
