BTCUSD - Where will a retrace happen?

Carolyn Boroden's book Fibonacci Trading has a chapter on using symmetry and fib extensions to establish a trade setup. So, let's try it on recent BTCUSD price action.

Kommentar:

Although BTC made a very brief and failed attempt at a bounce in the 6250 area, this idea has now been invalidated. Since the monthly MacD has turned bearish, I'll post a new chart and idea with 1.0 extensions on a weekly chart.