as I expected, we have some corrections to the prices of bitcoin and ethereum from the lowest level in November. Even though I still can't see changes in trends and this may not last too long.
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I have been trading for the past two decades, the stock market, forex, commodities and crypto are now added.
I have more experience in commodities and mutual funds, but over the years I have benefited from the average. of course I have lost a lot of trade, but the overall performance is positive for me.
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Bitcoin touches the support level of $ 3516 twice a week. Bitcoin has been shown before it can test the support level 4-5 times without damaging it, so finally it works.
BUT LIKELY gets below the level of support tested twice, high on the third attempt.
that's the same story with ethereum:
Ethereum touches 99 $ levels twice.
now let's see if the pause occurs, what will be the next level of support?
Fibonacci
For BTC, the current price level is the Fiber Fibo Pivot level, the downside we have $ 3618 that is close to the level of support touched (as mentioned above) and then:
$ 3143
$ 2375
For ETH, below the level of $ 100 support, we would expect S2 and S3 fibo on the weekly chart:
$ 88
$ 60
can we measure the risk of getting below the level of support tested? ($ 100 for eth and 3500 for btc)
I do not know. but I appreciate if you have information about this, please send me the line below.
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