Price touched the $6775, and could be re-tested very soon to check for support.
Retracement can possibly reach the 23.6% Fib Level @ $7664 if the $6775 Level holds up as support.
Failure at $6775 means price could reach the 120W EMA ($6666).
If this 120W EMA level holds up, price could retrace back up to the 0.236 Fib level at $7664, green rectangle, and the 55W EMA.
If price gets rejected by the 55WEMA price could re-test the 120W EMA again.
Failure to hold support at 120W EMA will invite a drop to the 200W EMA which would mean another 28% dip and a total of 84% depreciation from the $13K top.
This $4,847 target at the 200W EMA might be hit by mid December if the bulls don't show up to rally the market upwards.
An RSI Bullish Divergence is still valid on this Day Chart.
Stoch RSI is at Level Zero, awaiting price reversal anytime soon.
=================================
Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Retracement can possibly reach the 23.6% Fib Level @ $7664 if the $6775 Level holds up as support.
Failure at $6775 means price could reach the 120W EMA ($6666).
If this 120W EMA level holds up, price could retrace back up to the 0.236 Fib level at $7664, green rectangle, and the 55W EMA.
If price gets rejected by the 55WEMA price could re-test the 120W EMA again.
Failure to hold support at 120W EMA will invite a drop to the 200W EMA which would mean another 28% dip and a total of 84% depreciation from the $13K top.
This $4,847 target at the 200W EMA might be hit by mid December if the bulls don't show up to rally the market upwards.
An RSI Bullish Divergence is still valid on this Day Chart.
Stoch RSI is at Level Zero, awaiting price reversal anytime soon.
=================================
Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
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Bitcoin's 84% Depreciation & Fibonacci Levels
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Looking back at this post.
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Could Price Re-Test $6775 And Pump Up To The 21W EMA?
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Support found at the 120W EMA. What next?
