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BTC/USD 4h Looking a bit droopy
BTC is definitely looking bearish short term but how far it can dip, hard to say really right now. Although, considering where price has pulled back to test support twice at the first key Fibonacci level at %61.80, I would bet that it's going to continue on down to the next level and depending on the strength of that movement, then it will be easier to see where it will bottom out at, at least temporarily.
Also, Volume appears to moving to the sell side based on the squeeze indicator. If it bounces off either of the lower key Fib levels, there's a good chance it could make a run back up to 108,000, maybe even higher but I would personally err or the side of caution when it comes to going long here. Looking pretty droopy overall here.
Also, Volume appears to moving to the sell side based on the squeeze indicator. If it bounces off either of the lower key Fib levels, there's a good chance it could make a run back up to 108,000, maybe even higher but I would personally err or the side of caution when it comes to going long here. Looking pretty droopy overall here.
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