Failure to break above 1x1 tells us we have a change in Trend and Buyers are weak
Short entry, on breaking 1x2 line, stop loss breaking above 1x2 or above last major top depending on your preferred risk management.
Further confirmation will be shown by taking horizontal Fib support at 12,500 (which at tiome of writing is holding up Bitcoin market), where we can add to the position as Momentum picks up.
If significant break below 11,000 it could precipitate a further fall over time.
Short entry, on breaking 1x2 line, stop loss breaking above 1x2 or above last major top depending on your preferred risk management.
Further confirmation will be shown by taking horizontal Fib support at 12,500 (which at tiome of writing is holding up Bitcoin market), where we can add to the position as Momentum picks up.
If significant break below 11,000 it could precipitate a further fall over time.
