Fibonacci Analysis on Bitcoin

31 בדצמ׳ 2020

Bitcoin has been having quite the run. We can do a Fibonacci analysis on it making sure we set levels at areas where we see testing and lots of channeling. From here, we can see Bitcoin has an upper range to 36k. You should always exit slightly early so I would target 35,945 to take profit. The yellow line you see drawn becomes your stop loss if you want to leave a runner going. Expect retracement down to the 0.236 or the 0.382 levels once you take profit. Now if the levels fails to show retracement activity and stays above the yellow line, you may want to re-enter.