From what I am seeing in the price of Bitcoin
today is the rising channel
heading towards huge psychological resistance at $60,000 again. We are holding well around the 0.318 Fibonacci ratio. My prediction if we open a new hourly candle above the previous high support we are heaading higher for the next strong support at around the $55,860 next prior high, which coincides with the 100 EMA
If we do breakdown my prediction would be that we create another low at around the $54,000 range creating an inverted Head & Shoulders
pattern which leaves us more potential to the upside, with a taget price of $57.243 and taking profits before the price target. The $57,243 price target also coinsides with the 0.786% retracement.
Whats Your Thoughts?