If this is an especially deep retracement, 7.3k (0.236 and 0.618 confluence) should be expected, that would be a 50% retracement from the top.
https://twitter.com/opchecksig/status/1144303667073507333
https://twitter.com/opchecksig/status/1144303667073507333
Twitter
Zavan
$XBTUSD 1D 1st image: Every major correction of the previous bull market retraced btw 30%~40%. 2nd image: Lots of lines, lots of colors but stay with me. Notice the fib confluence in the 9.8k. Notice how a 30% retracement from top = 9.8k (0.382) & a 40% one…
The main take away: bottom between 8.5k & 9.8k if this is a regular retracement like the ones on the previous bull market, or 7.3k if this is an especially deep retracement.
Divergences, especially on volume, should help you find out the possible bottom.
Divergences, especially on volume, should help you find out the possible bottom.
Note: not the same fibs as the previous 1D charts, this one accounts for just the last leg of the bull run.
https://twitter.com/opchecksig/status/1144346691878969344
https://twitter.com/opchecksig/status/1144346691878969344
Twitter
Zavan
$XBTUSD 4H Possible temporary bounce on the trendline/50%
Zvn’s Charts
https://twitter.com/opchecksig/status/1145479583975784449
Twitter
Zavan
$XBTUSD 4H Update. Top failure swing complete with the previous bottom broken, expect continuation. Notice that I see this simply as a (much needed) correction on the daily and weekly, not a return to a bear market or something like that. (buy ze dip -> …
Zvn’s Charts
If this is an especially deep retracement, 7.3k (0.236 and 0.618 confluence) should be expected, that would be a 50% retracement from the top. https://twitter.com/opchecksig/status/1144303667073507333
9.8k (30%, fib confluences) dip completed, I'm long for a swing trade.
This *may* be it, but I wouldn't be surprised if it wicks down to 8.5k on the daily and I do have some more bids down below.
This *may* be it, but I wouldn't be surprised if it wicks down to 8.5k on the daily and I do have some more bids down below.