After hitting the 0.618 Fibonacci retracement perfectly, the Bitcoin
BTCUSD
made an extension right into the 1.272 Fibonacci extension level. And that without hesitation.
Now, having some trouble passing that level, it almost seems to be a perfect short setup.
However an AB=CD pattern emerges a bit above, and a trend line is passing by. Price can always go higher, but this confluence of 3 indicators can give you some better clues to go short and profit from a correction.
Happy trading!
BTCUSD
made an extension right into the 1.272 Fibonacci extension level. And that without hesitation. Now, having some trouble passing that level, it almost seems to be a perfect short setup.
However an AB=CD pattern emerges a bit above, and a trend line is passing by. Price can always go higher, but this confluence of 3 indicators can give you some better clues to go short and profit from a correction.
Happy trading!