BTCUSD - Parabolic Move and What Comes Next
But then the candle went back up again and is sitting pretty above level 0.618.
If it closes below the 0.618 level, see you in 8k.
If we close the weekly candle like this, parabolic is still intact and we can easily see 25k in the next few weeks.
Apparently, the recent dip was caused by the BTC contracts expiring that's why there has been a sell off.
What I'm really worried about is the . It's so steep and it's on the verge of diverging into territory.
At this point, traders must be cautious and set tight stop loss.
must not go below support which is 54, otherwise, parabolic ends and that's where doomsday begins.