- $~8.8k-$9k = 50% retrace of 28/1 -> 6/2 decline.
50% level. 17th January low, 10th February high.
- $~9.5k-$10k = 61.8% retrace of 21/1 -> 6/2 decline. 3rd February high. Top end of . 50% retrace of entire bitcoin market.
- $7.8k-8k = 200DMA. 2nd February low(which was significant break of (8/11/2017 high). Median level(previous swing lows 9/2 + 11/2)
Changes in retail sentiment (net long positioning dropping as we bottomed out) another indicator
Will keep updating along the way as we test levels