BTC/USDT - Bull trap or a Retrace to the support zone?!
Overview for BTC/ USDT
Wave I :
Starting point: 6869.62
Target: 8460.88
1591.26$ move UP!
Retracement:
0.5 fib. level
783.76$ move down
Wave II:
Starting point: 7677.12
Target: 9200.70
1523.58$ move UP
Retracement:
0.618 fib. level
971.57 $move down
Wave III:
Starting point: 8229.20
Target: 9434.94
1205.74 move UP! There is still a 306$ (3.25%) move up left for this wave?
Conclusion:
If you take into consideration the last 2 waves ( both waves have made 1591 - 1523$ gains) meaning that there is still a 306$ move up left for this wave.
On the other hand, as you can see, the price was rejected from the resistance line ( the red one) and the price is a little far from the 20 MA and a retest of it can be a possible scenario!
Also the RSI is on the sell zone.
Can this be bull trap or a it will be a retrace to the support zone?!
Let me know what do you think and what is your perspective for BTC!
Wave I :
Starting point: 6869.62
Target: 8460.88
1591.26$ move UP!
Retracement:
0.5 fib. level
783.76$ move down
Wave II:
Starting point: 7677.12
Target: 9200.70
1523.58$ move UP
Retracement:
0.618 fib. level
971.57 $move down
Wave III:
Starting point: 8229.20
Target: 9434.94
1205.74 move UP! There is still a 306$ (3.25%) move up left for this wave?
Conclusion:
If you take into consideration the last 2 waves ( both waves have made 1591 - 1523$ gains) meaning that there is still a 306$ move up left for this wave.
On the other hand, as you can see, the price was rejected from the resistance line ( the red one) and the price is a little far from the 20 MA and a retest of it can be a possible scenario!
Also the RSI is on the sell zone.
Can this be bull trap or a it will be a retrace to the support zone?!
Let me know what do you think and what is your perspective for BTC!
코멘트:
It looks like the bulls are trying to breakout of the resistance( red line)
코멘트:
We are going to the 9741 target!
거래청산: 타겟 닿음:
9741 target reached!
