BTC starts correction and now is forming a "falling wedge"
Hi guys.
BTC steel falling but, we're still bullish befor BTC close daily candle under 0.61 Fibo level.
Also BTC is forming a "falling wedge" pattern in a rise formation, that is bullish too.
As you can see on the chart, BTC tuched the 0.31 Fibo lavel first time since 05 Aug 21 '.
The buyers activity is low, so I think the correction should go lower.
Target is 0.5 Fibo lewel (42700-42600).
Also we can see some skweez from 0.5 Fibo level under 0.61 Fibo level to knock out some long positions.
And then sharp turn with target around 50,000 per BTC.
That's why I will put my long orders on 42600 (2% of depo) and 41235 (2.5% of depo) with stop-lose on 38289 and target 50,000.
What do you think?
BTC steel falling but, we're still bullish befor BTC close daily candle under 0.61 Fibo level.
Also BTC is forming a "falling wedge" pattern in a rise formation, that is bullish too.
As you can see on the chart, BTC tuched the 0.31 Fibo lavel first time since 05 Aug 21 '.
The buyers activity is low, so I think the correction should go lower.
Target is 0.5 Fibo lewel (42700-42600).
Also we can see some skweez from 0.5 Fibo level under 0.61 Fibo level to knock out some long positions.
And then sharp turn with target around 50,000 per BTC.
That's why I will put my long orders on 42600 (2% of depo) and 41235 (2.5% of depo) with stop-lose on 38289 and target 50,000.
What do you think?
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