As you can see drawn in the chart, we could potentially see a re-test of the left shoulder as we create an inverse Head & Shoulders.
This level is also coincidental with the 61.8% fibonacci retracement level ($43K), which many call "the point of no return", meaning a breakdown below this level is expected to reach 100% retracement, which is around $29K.
The 50sma is has been working well since the end of October 2020. And will be important to retake if the bulls want to take control.
This level is also coincidental with the 61.8% fibonacci retracement level ($43K), which many call "the point of no return", meaning a breakdown below this level is expected to reach 100% retracement, which is around $29K.
The 50sma is has been working well since the end of October 2020. And will be important to retake if the bulls want to take control.
Nota
The 50% Fibonacci retracement line has acted as support.The right shoulder could hold this level and still form the head & shoulders pattern.
Today's bullish engulfing candle is looking very nice.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.