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BTC 4Hr UPDATE:-
Bitcoin got rejected from the 0.5 Fibonacci level after seeing a 50% correction of its recent bearish expansion move. The price experienced a massive shThereakinghass prior low as it triggered numerous sell stops.
Currently, the price had plummeted to the wedge’s lower boundary at $21K and is struggling to hold above it. In case of a bearish breakout – a continuation towards a retest of the $18K level is likely.
In addition, the RSI indicator has dropped to the oversold region due to the massive shakeout. This recent price action indicates that BTC may form a bullish continuation correction before attempting to break the wedge’s lower boundary.
Remember:-This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Sorry for my English it is not my native language.
Do hit the like button if you like it and share your charts in the comments section.
Thank you.
BTC 4Hr UPDATE:-
Bitcoin got rejected from the 0.5 Fibonacci level after seeing a 50% correction of its recent bearish expansion move. The price experienced a massive shThereakinghass prior low as it triggered numerous sell stops.
Currently, the price had plummeted to the wedge’s lower boundary at $21K and is struggling to hold above it. In case of a bearish breakout – a continuation towards a retest of the $18K level is likely.
In addition, the RSI indicator has dropped to the oversold region due to the massive shakeout. This recent price action indicates that BTC may form a bullish continuation correction before attempting to break the wedge’s lower boundary.
Remember:-This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Sorry for my English it is not my native language.
Do hit the like button if you like it and share your charts in the comments section.
Thank you.
