mortonpeak

BTC rebounds from the 78% fibs

COINBASE:BTCUSD   Bitcoin
So what does it tell you when BTC refuses to retrace past 78% ?

I would like to know as a newbie fib guy (so this is not deep advice, comprende?)

It means that there are real pros in the water who know how to crash it, then buy it up at a deep discount. Buying the crash yields significant day trading profits on the way to 21K, as everyone predicts. You can see how the dips are occuring on-trend. People are buying dips up to a certain point. That's really good.

Sometimes I feel like we're not inherently taking eachother's money, like we're playing on a team, and making money as a community. Like competing pro athletes. The worst would be if the crowd turns away. Right now, the big whales keep attracting a bigger community.

Gains ahead as the retracement produces increasingly high regions of support

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