Chart – BTC Projection (11-10-2022)

Gráfica – Proyección BTC (10-11-2022)

Attached is the chart of BTC against USD at a focal price of $17,776 (own elaboration in Tradingview). We can see how the price yesterday perfectly respected the 23.6% Fibonacci level at $15,889, which determines a new low for 2022, represented by a 77% drop from the historical high. BTC has historically marked 75% correction levels, after reaching its maximum prices, which is being achieved right now. Yesterday we mentioned on different platforms that, in the markets, when a “fundamental” event occurs, as is the case with BinanceFTX, levels return to normal faster than when they adjusted their price. It remains to be seen if this will be the case, in the coming hours. We will keep you updated on further developments.