Bitcoin 38.2% Fibonacci Retracement
Updated
Bitcoin made a high of around 19.5k and crashed by about 15% from there. This indicates a shift to short-term bearish sentiment.
21 Week moving average is around $12500. In 3-4 weeks, it would increase to $13800. Bitcoin should take support from the 21-week moving average and 38.2% Fibonacci level of 13.8k which is our target.
If the high of 19.5k is taken down, then the short position must be closed.
21 Week moving average is around $12500. In 3-4 weeks, it would increase to $13800. Bitcoin should take support from the 21-week moving average and 38.2% Fibonacci level of 13.8k which is our target.
If the high of 19.5k is taken down, then the short position must be closed.
Trade active
Shorted at price: $17744.2
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.