BTC SHORT TERM TARGET - Short opportunity but not just yet
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Hi guys,
Exciting times!! Taking a look at the 30 minute time frame, I have the orange FIB from the high to the low showing how BTC bounced up to the 618 FIB, got rejected and continued to dump.
Then the white FIB from the lower high down to the current low where I project BTC will test the 618 FIB and if rejected continue back down. When doing a FIB extension on the 618 level of the white FIB retracement, we see that if BTC is indeed rejected at 618, it will target between 0.5-0.618 extension, (target 1), go up a little to test the longterm support line from March 12 then come back dwon to the fully realized target of approx $8528
If you are looking for a good short opportunity, follow the POSSIBLE path scenario below with an entry at approx $9298 and a tight SL just above.
This is just one possible path and not prediction.
Good luck
Exciting times!! Taking a look at the 30 minute time frame, I have the orange FIB from the high to the low showing how BTC bounced up to the 618 FIB, got rejected and continued to dump.
Then the white FIB from the lower high down to the current low where I project BTC will test the 618 FIB and if rejected continue back down. When doing a FIB extension on the 618 level of the white FIB retracement, we see that if BTC is indeed rejected at 618, it will target between 0.5-0.618 extension, (target 1), go up a little to test the longterm support line from March 12 then come back dwon to the fully realized target of approx $8528
If you are looking for a good short opportunity, follow the POSSIBLE path scenario below with an entry at approx $9298 and a tight SL just above.
This is just one possible path and not prediction.
Good luck
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