BTC near-term projection

19 de mai. de 2021

Here in this simplistic post we are on the 1-Month chart. A proper Fibonacci retracement shows that the golden zone for longs has indeed been rejected once so far into this deep fall of BTC. Usually support is tested about 3 times before making a bigger move up if bullish which I believe it is. So far a very health correction to BTC long bullish blue candles on the month chart. I expect the currency to quickly recover lost ground in the coming weeks if it respects the 0.5-.618 zones. If .764 red zone is breached, then all is lost and further red candles will arise.