Question: Is this the level for a major save in the Bitcoin Market.
Answer:I Hope So...
Bitcoin has been a painful for a lot of traders, retail and corporations. But I plan on watching this level.
ps. Im sorry for the colors. Did this on my phone. Its hard to get fancy.
BTCUSD
Yellow Fib is a 61.8 Extension where price can react due to price making a lower low in structure setting up for change in trend.
Green Fib is the 50% Level where those who when long at the previous higher low will want to get out. They want to exit with the feeling of redemption while being in profit.
Red Fib is the 61.8 level which turns out to have a supply/demand confluence for re-entry.
Purple Fib is the level where id be recommending to take some profits, the market can retrace quite a bit, but will not kill the trend and turn the market upside down.
Answer:I Hope So...
Bitcoin has been a painful for a lot of traders, retail and corporations. But I plan on watching this level.
ps. Im sorry for the colors. Did this on my phone. Its hard to get fancy.
BTCUSD
Yellow Fib is a 61.8 Extension where price can react due to price making a lower low in structure setting up for change in trend.
Green Fib is the 50% Level where those who when long at the previous higher low will want to get out. They want to exit with the feeling of redemption while being in profit.
Red Fib is the 61.8 level which turns out to have a supply/demand confluence for re-entry.
Purple Fib is the level where id be recommending to take some profits, the market can retrace quite a bit, but will not kill the trend and turn the market upside down.