Fibonacci levels on BET-FI

After any uptrend appears corrections. Nobody knows with precision the amplitude in time and price of this corrections. But if it is a correction it should stop at some levels and restart the trend moving higher. Fibonacci levels represent retracement level of 38,2% , 50,0% and 61,8% of the previous trend.

For BET-FI very important level to see if the market rebounds is around 22.000, which is given also by the 50 and 200 days moving averages and also by the uptrend line.
If the price breaks down the level around 20.000 than this wasn't a correction and was a trend change and the prices will go more down to retest the lows around 16.000
The MACD indicator shows a powerful momentum up and is normal in bull markets for this indicator to reach new highs on an uptrend and then came down to neutral in the corrections. This is the case right now, it reached  new highs and right now seems like its turning implying corrections ahead.


Have a great day everybody!