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RE: Bitcoin (BTC) Evening Update: Overnight Likely to Initiate Travel Towards 0.618 Fibonacci Level
Your comments make no sense. Two points to get past to get to your first target. Please never give me directions to your house, I'll be phucked for sure
Price found buyers at $8400. If price is going to move up, price needs to take out the sell orders at orders at $9300 and $10000 first...the rule of two (in this case absorb one stack of sell orders, price is range bound, absorb another stack of sell orders, confirmation that the trend has changed). My short term target is $10500 because not only are there sell orders there, but that was level at which price took out buy orders at $10200 and $9400 (pink rectangle). My 2nd target is daily supply level, which is the original origin of the leg down to daily demand level of $8400. Does that make sense, hopefully those direction will get you my house?