Do we see another crash day like yesterday? Today we see a consolidation from the down movement before and we arrived the 61.8 Fib Retracement. Three times we touched this level and some Trader use it to put some BTC in the market.
Buy the Dip can be very dangerous
As long we can see big sell orders, it is very dangerous to catch the falling knife. If you have leveraged positions it can be your death if a big player make some cash. As an Investor i wanna see a finished consolidation and that i can't see in the charts.
Important Zones for me to find new buyers
The old highs in the chart are always interesting. Together with the MA200 on the 4H time unit we find a good support at the ~42500$
As long we don't crash the 29770$, we are in a uptrend on the bigger time units.
Daily PG and a closing price under the trigger 50800$
It's looking not good for the bulls and we also have enough space to continue the consolidation process.
Let's wait what the big player are doing today and if we will see more pain on the downside.
Source: (Guidants/Godmode Trader) & JFD Broker & Binance
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