A while back, we talked about how the $BTC price could potentially rise towards the Fibonacci Extension resistance levels of 0.786 - 0.886. When that resistance reacted due to selling pressure, do you think the market sentiment leans towards significant selling or are people still holding onto BTC for the long haul?

Looking at the Exchange Reserve & Exchange Inflow metrics that went up, it does seem true that there's been a transfer of BTC supply entering exchanges for trading. Also, a lot of Long position contracts closed at that resistance.

Right now, I'm keeping an eye on the MA50 or SMA50 on the daily timeframe as the nearest support reference. If that support reacts and we see significant buy orders, I'm hoping that the current BTC trend, calculated using Elliott Waves, could be wave 3, indicating a long bullish trend. $BTC #BitcoinStrategies #CRYPTOHELL