They say parabolic moves often correct 80% which is $20,000 --> $4000 which is close to the current price
Also this parabolic move started after the last time BTC went below the 200WEMA (Marked first arrow). This is the first time since then it is crossing the 200EMA (2nd arrow). Lets see if it takes support here over the next week or so.
Also at a key FIBO level of the entire move as visible in the chart..
Additionally 50MEMA is around approx 3850..
Ps: This isn't a buy reach but simply makes things very interesting to track and see what it does around these imp levels.
Also this parabolic move started after the last time BTC went below the 200WEMA (Marked first arrow). This is the first time since then it is crossing the 200EMA (2nd arrow). Lets see if it takes support here over the next week or so.
Also at a key FIBO level of the entire move as visible in the chart..
Additionally 50MEMA is around approx 3850..
Ps: This isn't a buy reach but simply makes things very interesting to track and see what it does around these imp levels.