Will do it short :
- BTC retraced 38.2% Fibo on CME
- BTC retraced to 50% Fibo (50,000 ish On Exchanges, not on CME)
- Nice gap to take back around 57,800-60,000 zones
if we break down EMA50 ( Green EMA ) then we could see more bearish move to :
- Fibo 68.2% : 47,000
- EMA100 : 43,000 support ( Orange EMA )
- EMA200 : 33,000 support ( Very strong support ) ( Red EMA + Very Big demand zone )
if we retraced already next target should be :
- next TP 74k+
That said this retracement is logic. everything going up have to go down to reinforce before going up again. No need to panic.
i used Chicago CME ( institutional players are here ) , so don't compare BTC price, it's different from Exchanges.
Happy Tr4Ding !
- BTC retraced 38.2% Fibo on CME
- BTC retraced to 50% Fibo (50,000 ish On Exchanges, not on CME)
- Nice gap to take back around 57,800-60,000 zones
if we break down EMA50 ( Green EMA ) then we could see more bearish move to :
- Fibo 68.2% : 47,000
- EMA100 : 43,000 support ( Orange EMA )
- EMA200 : 33,000 support ( Very strong support ) ( Red EMA + Very Big demand zone )
if we retraced already next target should be :
- next TP 74k+
That said this retracement is logic. everything going up have to go down to reinforce before going up again. No need to panic.
i used Chicago CME ( institutional players are here ) , so don't compare BTC price, it's different from Exchanges.
Happy Tr4Ding !
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Bounces ( Exchanges View Binance )Note
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EMAs ( Exchange View )Note
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get it ?
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keep an eye on that triangle.Note
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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.