Well, maybe the bottom was in (maybe not as well) and here is the picture we see.
Having seemingly found some support at the green zone we are ranging between there and the long term trendline from the channel on the weekly.
Expect to see a return to the supply zone.
After this, we can reasonably expect a return to the red zone.
In the red zone, we find the local .382 fib at roughly .2, we can expect something of a sell of there as traders take their profits but if risk appetite improves by then, and a bit of FOMO kicks in, we can expect a return to the top of the weekly channel, probably close to .26 were we find confluence with the .618 fib.
BTC is still on shaky ground and nothing is guaranteed so trade safely,
wear sunscreen!!
Having seemingly found some support at the green zone we are ranging between there and the long term trendline from the channel on the weekly.
Expect to see a return to the supply zone.
After this, we can reasonably expect a return to the red zone.
In the red zone, we find the local .382 fib at roughly .2, we can expect something of a sell of there as traders take their profits but if risk appetite improves by then, and a bit of FOMO kicks in, we can expect a return to the top of the weekly channel, probably close to .26 were we find confluence with the .618 fib.
BTC is still on shaky ground and nothing is guaranteed so trade safely,
wear sunscreen!!