BTCUSD Fib Bearish Estimates

IF (and that's a BIG if) there is a pullback for Bitcoin, where might it go? Using one form of fib retracements, where the 0 is the recent peak, and a range is achieved by putting one 0.618 on the lowest wick and one on the lowest close of the following dip, then the two areas of interest would be somewhere near 20%, the recent pullback levels (since the liquidity crisis in March), and somewhere near 30-40%, the typical pullback values of the previous BTC Bull Market.

That leaves the 1.618 and 2.618 ranges. Fib fans like anything 618, so that could make sense.

Be prepared for anything. This is not trading advice, merely a study in interesting possibilities.

Kommentera:

These numbers stay relevant until the ATH is increased, and that is pretty likely as well