Bitcoin Retracement Over?
Updated
BTC has printed a Bull Flag on the Hourly and there are 2 indicators showing confluence at the 30k level:
1. 50% Retracement sits at the 30k zone
2. Bottom Bollinger Band tested at 30k
The bearish scenario is the CME gap at the 25k zone which sits in confluence with the 61.8% Fib level.
If BTC doesn't hold its ground at 30k, we will see 25k very quickly, otherwise a reversal at 30k to the upside will take us to the 40k zone, we are on the fence here...
1. 50% Retracement sits at the 30k zone
2. Bottom Bollinger Band tested at 30k
The bearish scenario is the CME gap at the 25k zone which sits in confluence with the 61.8% Fib level.
If BTC doesn't hold its ground at 30k, we will see 25k very quickly, otherwise a reversal at 30k to the upside will take us to the 40k zone, we are on the fence here...
Note
Typo, Bull Flag On the Daily, not the Hourly.
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.