Trading Bitcoin with Advanced Fibonacci
On bitcoin; the weekly resistance holding and market pushing away from weekly trend change. It could open up the way for a test of stops below 6420 as long as we remain below weekly trend and this 10k resıstance area..
Looking at your weekly support we do have nice cluster support at 4600-4800 zone
And the daily wash and rinse of previosus high , for now we can see a decent flow through on the sell signal.
Looking at our support levels on daily. We are resting on the confluence support zone and this very likely to cause a bounce. This is the key support level we are going to monitor this week.
İf we drop to more lower timeframes; We do have confluence + agreement resıstance level on 1hr. Weekly and daily trends are down thıs can be a good spot to short the market.
Note: My analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. It is my own view of the market and is not endorsed by Joe DiNapoli or any related companies.
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