I have drawn here a future fibonacci retracement by lining up the 236 with the recent lower high, this shows a potential resting place for bitcoin during the dump at around 20070 where I expect the price to retrace but remain bearish. Good spots to sell 20k longs would be any and all of these fib retracements.
If the bear is successful they will be looking to dump it towards 16k area again where the 1.618 target will be a huge profit taking zone.
To show I am not a permabear and trying to be objective I have linked previous analysis where I was bullish from low, but now I see strong indication that whales are selling.
If the bear is successful they will be looking to dump it towards 16k area again where the 1.618 target will be a huge profit taking zone.
To show I am not a permabear and trying to be objective I have linked previous analysis where I was bullish from low, but now I see strong indication that whales are selling.
