If we go back in time and scan the BTC charts, comparing other retests of the 200d SMA, one fractal from June/July of 2018 stands out in particular.
Not only got it rejected at the 0.618 Fibonacci retracement and couldn’t break the SMA, it also appears to be very similar - look what happened after that bull trap back then… the capitulation to $3K.
With this in mind, hope for the best but be prepared for the “worst”.
Not only got it rejected at the 0.618 Fibonacci retracement and couldn’t break the SMA, it also appears to be very similar - look what happened after that bull trap back then… the capitulation to $3K.
With this in mind, hope for the best but be prepared for the “worst”.
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