BTC bonded from the weekly resistance at 8470 level which meets the 50 MA (daily), BTC goes down again under the center line of the descending channel on the way to test the big descending channel which meets the 61% Fibonacci (monthly) and the 25 MA (daily), but looking at the chart there is a pattern its target is at 61% Fibonacci (daily for last wave) and the 100 MA (4-hours).
let's watch now
let's watch now
Note
Descending triangle, its target near to Head and Shoulder target.Looking to RSI, BTC flip under 50 and even it will try to go up it will face the down trend in orange and the 50 level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.