0.38 fib on daily wasnt breached before drop, indicating healthy correction. This leads to believe 0.618 would hold as a good spot to long.
Reasons it would hold:
- Tenkan sitting
- 0.618 fib level
- end of moderate correction fib of 2.6
target: 8k-8.2k
- 0.38fib not breached yet
- lots of incentive/liquidity there.
Note: if 0.7 fib/6422$ gets breached, this analysis would become invalid.
Reasons it would hold:
- Tenkan sitting
- 0.618 fib level
- end of moderate correction fib of 2.6
target: 8k-8.2k
- 0.38fib not breached yet
- lots of incentive/liquidity there.
Note: if 0.7 fib/6422$ gets breached, this analysis would become invalid.