The price of bitcoin may drop to 50% of the fibonacci
Recently, the price of bitcoin after an uptrend has triangular correction.
This time it may not be an exception when bitcoin prices are bouncing back after a strong rally.
Using fibonacci can determine that the level of 10k7 (50% fibonacci level)
At the same time, this level is also the EMA100.
If the price breaks the EMA100, the cumulative triangle pattern is no longer valid.
At that time, the zone of 8k8 $ will be a potential level because this is the previous resistance level that broke through without testing again.
Hopefully this analysis gives you an overview of the next 1-2 weeks of bitcoin prices and a trading plan for yourself.
This time it may not be an exception when bitcoin prices are bouncing back after a strong rally.
Using fibonacci can determine that the level of 10k7 (50% fibonacci level)
At the same time, this level is also the EMA100.
If the price breaks the EMA100, the cumulative triangle pattern is no longer valid.
At that time, the zone of 8k8 $ will be a potential level because this is the previous resistance level that broke through without testing again.
Hopefully this analysis gives you an overview of the next 1-2 weeks of bitcoin prices and a trading plan for yourself.
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