Hello Folks,
The weekly candle closed representing a bullish breakout. Though please still be careful if you open long here. We are moving in a zone which has been tested in the last few days of March i.e. 8.2k - 9.2k. As you can see price is going to try to break 8.6k if that happens we could go up to 9.2k at that point it's hard to say that the bullish movement will continue.
I would expect a retrace to previous fib levels probably 8.2k. last time when the price hit 9.2k it dropped to 6.4k. But last time Rsi was low. This time the RSI is already at 60. Which means chances of retracing to lower levels are high. lets see what happened this time. when the price corsses 9.2k i will post a new chart.
As always be careful with your hard earned fiat. Ain't easy to make dough.
Note : This is for educational purposes only
The weekly candle closed representing a bullish breakout. Though please still be careful if you open long here. We are moving in a zone which has been tested in the last few days of March i.e. 8.2k - 9.2k. As you can see price is going to try to break 8.6k if that happens we could go up to 9.2k at that point it's hard to say that the bullish movement will continue.
I would expect a retrace to previous fib levels probably 8.2k. last time when the price hit 9.2k it dropped to 6.4k. But last time Rsi was low. This time the RSI is already at 60. Which means chances of retracing to lower levels are high. lets see what happened this time. when the price corsses 9.2k i will post a new chart.
As always be careful with your hard earned fiat. Ain't easy to make dough.
Note : This is for educational purposes only