As we come to the end of the week, we see the potential for further drop as PA slides along that 236 Fib circle. ( Red)
It NEVER ceases to amaze me how PA reacts to Fib circles and yet, as if by magic, there is some Macro News at exactly the same time
On this occasion, It seems the US inflation figures on Friday caused this Drop in price.
This Chart is the daily verion of the Weekly chart i often post about weekly candle closes.
I trust this chart
The chance for a drop to arounf 75K is very real and if that fails, down to the 2 Fib extension arounf 68K, though I think that is unlikely
We do need to watch on which side of thois Fib circle PA sits tomorrow. - Idealy, it breaks through tonight and next week candle sits on the "Support" side on the circle.
If it remains as resistance, A Steep drop is highly likely.
In my opinion.
Daily MACD is turned down, heading towards it ssignal line. If that crosses, the Daily becomes very BEARISH
We have to wait and see what happens and be ready to react.
I do have SPOT buy orders around 78 K
If we Drop Lower, I will dig up some funds and buy more lol
WE WAIT FOR WEEKKY CLOSE
It NEVER ceases to amaze me how PA reacts to Fib circles and yet, as if by magic, there is some Macro News at exactly the same time
On this occasion, It seems the US inflation figures on Friday caused this Drop in price.
This Chart is the daily verion of the Weekly chart i often post about weekly candle closes.
I trust this chart
The chance for a drop to arounf 75K is very real and if that fails, down to the 2 Fib extension arounf 68K, though I think that is unlikely
We do need to watch on which side of thois Fib circle PA sits tomorrow. - Idealy, it breaks through tonight and next week candle sits on the "Support" side on the circle.
If it remains as resistance, A Steep drop is highly likely.
In my opinion.
Daily MACD is turned down, heading towards it ssignal line. If that crosses, the Daily becomes very BEARISH
We have to wait and see what happens and be ready to react.
I do have SPOT buy orders around 78 K
If we Drop Lower, I will dig up some funds and buy more lol
WE WAIT FOR WEEKKY CLOSE
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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.
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.