$BTC At the moment price is hovering in the region between the 0.618 and 0.5 fib levels on the 4h.
Historically, most retracements fall to the 0.5 fib level before we see a reversal. If price action stays above this range, we could see a bounce from here to retest the OB at $86k.
However, if we see a continuation lower and we close on the 4h below the 0.5 level, my target area of $80k has a higher probability of playing out.
Time will tell.
Historically, most retracements fall to the 0.5 fib level before we see a reversal. If price action stays above this range, we could see a bounce from here to retest the OB at $86k.
However, if we see a continuation lower and we close on the 4h below the 0.5 level, my target area of $80k has a higher probability of playing out.
Time will tell.
