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BTC - Possible Downtrend Symmetrical Retrace
Inspired by Queen Fibs Symmetry, I noticed a possible retrace of a the prior swing high to swing low of 55 bars. Testing the ideas.
The 100% retrace would be 9295.6.
The 1.618 is 8694. There's a 2nd fib ext line, .786 at 8692. If 100 doesn't hold, strong support here could turn it around.
On the way down, minor S&R at 10k, 9850, 9550,
Trigger to sell would be when the 8 ema crosses below the 34 ema and takes out prior pivot, just below 10,300.
Let's see how this plays out.
The 100% retrace would be 9295.6.
The 1.618 is 8694. There's a 2nd fib ext line, .786 at 8692. If 100 doesn't hold, strong support here could turn it around.
On the way down, minor S&R at 10k, 9850, 9550,
Trigger to sell would be when the 8 ema crosses below the 34 ema and takes out prior pivot, just below 10,300.
Let's see how this plays out.
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