Current BTCUSD price drop support target:
if we are on the way to bull(i think so, and reasons below), follow the arrows depends on the support-to-be and continue in the blue price line movement.
support-to-be: 7500usd or 6500usd or 5500/6000usd.
I think now it would be a good Altcoins season when btcusd is in consolidation, if not too volatile.
Why we are on the way to the bull:
BTCUSD history bull counting:
formed fib 4.236(ATH), turn it into 1 for another bull counting, targeting fib 4.236:
Take a look at the previous 2 ATH- Bear and ReBull from there :
mark ATH as 1.272
Bear target: 0.236
Way to bear target:
directly down to 0.236/0.382, pull back till 0.786, then down to 0.236.
more details in both history scenarios are:
scenario 1: ATH - 0.236 - 0.786 - 0.382/0.236
scenario 2: ATH - 0.382 - 0.786 - 0.236
ReBull target: put ATH as fib 1, then fib 4.236 is the target.
Way to re-bull target:
breakout from 0.382 and consolidate between 0.382-0.5, then bull from there.
note:
1- no single breakout from 0.5. need at least double attempts
2- after fib levels been properly broken out(been double attempted) from, became firm support.
A closeup at the RSI:
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if we hold well around current fib 0.5, then we go directly higher from here
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3 arrows of support levels to be, and continue following the blue price movements from there:
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