Hello,
I'm a beginner in TA and would appreciate all relevant feedback.
Using the LOG format, it seems that the Bear cycle is not over, however a Fibonacci alternative also persists.
As you can see, we are soon at the 0.786 Fibonacci Retracement , and there is a chance that we will bounce from here. However looking at the other indicators, there is also a possibility that we started a longer term downtrend till August 2018 and could go as low as %3,200 before going up to new heights.
If you agree with my analysis, I would be grateful if you left a like on this post.
-Hawk
I'm a beginner in TA and would appreciate all relevant feedback.
Using the LOG format, it seems that the Bear cycle is not over, however a Fibonacci alternative also persists.
As you can see, we are soon at the 0.786 Fibonacci Retracement , and there is a chance that we will bounce from here. However looking at the other indicators, there is also a possibility that we started a longer term downtrend till August 2018 and could go as low as %3,200 before going up to new heights.
If you agree with my analysis, I would be grateful if you left a like on this post.
-Hawk