BTCUSD - descending highs from FIBO 718
Hello again !
Everything I noticed is drawed in this idea, at 4 hour timeframe.
In practice, as BTC -3.79% -4.20% broke above FIBO 718 by 18th January, also started decrease value & failed 5 times, at all highs during way.
So at this point, I can extend line and create a blue descending triangle , that I could tracking and follow.
I want to see, If Bitcoin -3.79% -4.20% will realy follow this slow downtrend, or is capable to jump from green EMA 1200 acting as an important support, higher to pierce triangle at the top.
I personally guess, it will continue below, or do another lower highs above EMA 1200 - of course, again lower.
MACD apperas for downtrend too.
I would make a longer-term investments. So this chart is dedicated to long-term holders , aiming to buy bottoms.
As ussualy, ALTCONS will in major follow leader = Bitcoin -3.79% -4.20% .
Easy-said, BTC falling in longer timeframe with smaller bull-runs & we need to get above FIBO 618 to confirm BTC dominance.
In longer perspective, I am very bull for CRYPTO projects.
That´s all by me.
Please, do not trade by my ideas and make your own decisions.
If you agree with my chart, leave a like.
Sincerly,
Mario Emvo.
*This is not a financial advice.
*Only for educational pursposes.
Everything I noticed is drawed in this idea, at 4 hour timeframe.
In practice, as BTC -3.79% -4.20% broke above FIBO 718 by 18th January, also started decrease value & failed 5 times, at all highs during way.
So at this point, I can extend line and create a blue descending triangle , that I could tracking and follow.
I want to see, If Bitcoin -3.79% -4.20% will realy follow this slow downtrend, or is capable to jump from green EMA 1200 acting as an important support, higher to pierce triangle at the top.
I personally guess, it will continue below, or do another lower highs above EMA 1200 - of course, again lower.
MACD apperas for downtrend too.
I would make a longer-term investments. So this chart is dedicated to long-term holders , aiming to buy bottoms.
As ussualy, ALTCONS will in major follow leader = Bitcoin -3.79% -4.20% .
Easy-said, BTC falling in longer timeframe with smaller bull-runs & we need to get above FIBO 618 to confirm BTC dominance.
In longer perspective, I am very bull for CRYPTO projects.
That´s all by me.
Please, do not trade by my ideas and make your own decisions.
If you agree with my chart, leave a like.
Sincerly,
Mario Emvo.
*This is not a financial advice.
*Only for educational pursposes.
הערה
I meant FIBO 786. No 718.הערה
Yes, we can go technically to FIBO 0.5. It´s a lot of room for. But it not means, BTC is in uptrend . Uptrend starts, as breaks above golden resistance 618 Fibo retracement and continue in uptrend with confirmation. *This is not a financial advice.
*Only for educational pursposes.
הערה
You can see . BTC not breaks above triangle. Failed again. Will tests that blue line again and again, till breakout.The most probably zones are around end of June or as July begins.
*This is not a financial advice.
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