as mentioned in my previous ideas the green upward channel is still valid,
I see 2 tension point that are targets for bitcoin which I mentioned them in the chart with ( T ).
in my opinion, there is 3 scenario :
green: due to the market news and situations in the overall financial market, I believe other markets need a retracement and lately cryptocurrency has had enough news to get attention, also the adaptivity of crypto is increasing day by day, so I believe if any dump or retrace will happen for other markets the smart money will fall into crypto and the green arrow will move into green channel even there is the possibility to break it above.
orange: there is a possibility for the price to range between blue and red line this would happen if in close future any fud news will make for BTC and makes doubts in the people mind.
RED: this would be the worst scenario which would happen a range market between two red lines and altcoin will suffer if this scenario happens.
I don't see any bearish movement, there would be a little retracement for accumulating but no dump for the future, for now, 40 is the basement for BTC.
I see 2 tension point that are targets for bitcoin which I mentioned them in the chart with ( T ).
in my opinion, there is 3 scenario :
green: due to the market news and situations in the overall financial market, I believe other markets need a retracement and lately cryptocurrency has had enough news to get attention, also the adaptivity of crypto is increasing day by day, so I believe if any dump or retrace will happen for other markets the smart money will fall into crypto and the green arrow will move into green channel even there is the possibility to break it above.
orange: there is a possibility for the price to range between blue and red line this would happen if in close future any fud news will make for BTC and makes doubts in the people mind.
RED: this would be the worst scenario which would happen a range market between two red lines and altcoin will suffer if this scenario happens.
I don't see any bearish movement, there would be a little retracement for accumulating but no dump for the future, for now, 40 is the basement for BTC.
Comment:
The idea below is a probability which considers the previous behavior id price in this channel.
Comment:
hi guys.
after the first pump from 29K, the extension fibo got us proper and fine targets till now , we just reach the target and because the distance of the next target from here is a little high I believe we need a proper correction OR a huge amount of money and investing from whales or big institutions,
by the way from 29k till here we have about 70 % growth so if the correction scenario happens it would take 38 to 50 percent of it back or less.
so I hope you all saved some profit and watch the chart carefully.
if the yellow channel (a wedge shape ) will break we have our targets in pink line which any of them could be the reversal potential area.
the extension fibo also can help us to find good levels of knots.
after the first pump from 29K, the extension fibo got us proper and fine targets till now , we just reach the target and because the distance of the next target from here is a little high I believe we need a proper correction OR a huge amount of money and investing from whales or big institutions,
by the way from 29k till here we have about 70 % growth so if the correction scenario happens it would take 38 to 50 percent of it back or less.
so I hope you all saved some profit and watch the chart carefully.
if the yellow channel (a wedge shape ) will break we have our targets in pink line which any of them could be the reversal potential area.
the extension fibo also can help us to find good levels of knots.
