Based on the fib extension of the recent pump, considering it as the first impulse of a five wave structure. The 2.168 fib extension is at 9436 near the confluence of support and resistances at 9327. The confluence of support is at the resistance of a longterm descending triangle and a retest of a prior triangle support that BTC broke down from on March 8th.
At lower than 9.4K we will find the top of the weekly ichimoku cloud, adding to the confluence of resistances.
If price action remains inside the triangle than we might see a reversal of trend toward the 5K region or lower.
At lower than 9.4K we will find the top of the weekly ichimoku cloud, adding to the confluence of resistances.
If price action remains inside the triangle than we might see a reversal of trend toward the 5K region or lower.
Comment:
going to the top of the weekly cloud at 9.6k
Comment:
target reached
