the fall and correction already started and the reasons mentioned in previous analysis a lot (like 0.5% of Fibonacci retracement level)
now we have three possible scenarios that all are Bearish:
First: continuation of fall from this area and reaching targets like 42K--40K
Second: again price start to show some strength then we consider right shoulder for this rise and creation of Head & Shoulder and then again deep fall.
Third: if and only if the price was strong enough to break 0.5% of Fibonacci level then 0.61% as the main resistance zone will dump price.
DISCLAIMER: ((trade based on your own decision ))
<<press like👍 if you enjoy💚>>
now we have three possible scenarios that all are Bearish:
First: continuation of fall from this area and reaching targets like 42K--40K
Second: again price start to show some strength then we consider right shoulder for this rise and creation of Head & Shoulder and then again deep fall.
Third: if and only if the price was strong enough to break 0.5% of Fibonacci level then 0.61% as the main resistance zone will dump price.
DISCLAIMER: ((trade based on your own decision ))
<<press like👍 if you enjoy💚>>
Note
previous daily chart and some reasons that price need rest:
Trade active
Price just reach right shoulder (Red path): price now is 47000and this is the first resistance zone touched.
what is next ?
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My telegram channel:
t.me/mmbtchannel
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned messages in my telegram channel for more info.
Related publications
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.