In a previous idea, I listed the expected targets if bitcoin broke the current low.
In this idea, I have analyzed if the opposite scenario were to happen, which is if BTC broke the most recent high of $4240.
My targets for this breakout are $4500, $4650, $4800, and $4925.
The strongest resistance is $4925. This is a 61.8% Fibonacci extension level. BTC should at least pullback at this level.
In conclusion, I would be a buyer if BTC breaks $4240. My stop loss would be $4100 (<4% loss).
In this idea, I have analyzed if the opposite scenario were to happen, which is if BTC broke the most recent high of $4240.
My targets for this breakout are $4500, $4650, $4800, and $4925.
The strongest resistance is $4925. This is a 61.8% Fibonacci extension level. BTC should at least pullback at this level.
In conclusion, I would be a buyer if BTC breaks $4240. My stop loss would be $4100 (<4% loss).
