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RE: Bitcoin (BTC) Evening Update: Overnight Likely to Initiate Travel Towards 0.618 Fibonacci Level
@haejin, You said on previous post that the price rise above $9,700 will be required and it changed to $9,493 now. Is there any reason? I am just wondering if I can lean about the reason.
I think that is from a descending line, as time passes the $ value is less. I am not an expert though :-)
The upper trendline is placed from a higher to a lower point. Each day this trendline shows a figure that is around $ 140,-- lower than the day before. To get into a bulish scenario this line has to be broken.
Breaking trough it does not mean that if the second it "breaks" it is brooken. It has to stay above it for a longer period of time. (candles)
Just exceeded 9,493!