Bitcoin futures approaches 0.618 Fibonacci retracement

Gregor Horvat Wavetraders

Cryptocurrencies remain at the intraday highs and we have seen a slightly higher move over the weekend, but keep in mind that we are still at the strong and important resistance zone, from where we may see sharp and impulsive reversal down that can occur anytime soon.

The main reason can be Bitcoin Futures chart, which has already filled the GAP on Friday last week and is right now approaching golden 61,8% Fibonacci retracement.

Bitcoin futures 4h Elliott Wave analysis chart

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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Bitcoin futures 4h Elliott Wave analysis chart

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