Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
dragonvslinux
on 17/08/2021, 00:26:37 UTC
⭐ Merited by JayJuanGee (1)
Latest Fun With Fractals outlook. I don't give too much credit to a rising wedge breakdown target, but it does line up with the start of TD 1-4 candle correction fractal, short-term 0.618 fib retracement and volume support:



Either that or the 50 Day MA holds that's in confluence with previous resistance trend-line turned support(ish) and 0.382 long-term fib retracement level:



But otherwise I'd realign the fractal from the recent double-top that occurred, assuming the correction could last a few more days before finding support:



Either way, I'm eyeing up support right now as opposed to resistance. I don't see $48K as resistance, more like the TD 9 Sell Signal playing out as the local top, and bad luck.