Looking for levels of potential major price reversal?
Look at the Fibonacci Levels 0.236 ($15,936.16) & 0.382 ($13,488.91) as these are the most common levels where prices start to reverse the big picture trend.
Double Top Pattern - a signal most commonly associated with a strong price reversal due to the fact that the price are being rejected at that level, buyers lose dominance and sellers take control bringing prices downward.
Warning! These are not absolute levels of price reversal. There is no rule that says we can't continue to go towards the all time high of $19,891.99
Remember to always, always place your trailing stops at the appropriate levels.
And be prepared for any scenario.
Happy Trading Everyone.
Ron
Check out these still valid mid-term outlook for Bitcoin using:
Support and Resistance Lines
The Trend-Based Fibonacci Extension Tool
Elliott Impulse And Correction Waves
Check out these still valid short-term outlook for Bitcoin using:
Bitcoin ABC Elliott Correction Wave & Gann Boxes
Look at the Fibonacci Levels 0.236 ($15,936.16) & 0.382 ($13,488.91) as these are the most common levels where prices start to reverse the big picture trend.
Double Top Pattern - a signal most commonly associated with a strong price reversal due to the fact that the price are being rejected at that level, buyers lose dominance and sellers take control bringing prices downward.
Warning! These are not absolute levels of price reversal. There is no rule that says we can't continue to go towards the all time high of $19,891.99
Remember to always, always place your trailing stops at the appropriate levels.
And be prepared for any scenario.
Happy Trading Everyone.
Ron
Check out these still valid mid-term outlook for Bitcoin using:
Support and Resistance Lines
The Trend-Based Fibonacci Extension Tool
Elliott Impulse And Correction Waves
Check out these still valid short-term outlook for Bitcoin using:
Bitcoin ABC Elliott Correction Wave & Gann Boxes
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