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BTCUSD Breakdown Below 116,500 – Watching 61.8% Fib Retracement

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BTCUSD has broken down below the 116,500 level on the 4-hour timeframe. It’s best to wait for a potential sell entry near the 61.8% Fibonacci retracement of the last bullish wave. Stop-loss and take-profit levels are shown on the chart
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As anticipated, BTCUSD has now reached the 61.8% Fibonacci retracement level of the last bearish wave, exactly where we marked a potential sell entry in yesterday’s post. This level is acting as a key resistance zone.

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