Hello everyone, i've tried to zoom out as far as possible and that's what i noticed, the Fib-extension that goes from 13 of march 2020 shows almost exact levels where Bitcoin's price was hugely rejected for the last ~5 times this year. Also Fib-channel that goes from 2018 still matches the trend pretty good, the only time the price got out of it was because of the first covid. Schiff Pitchfork that goes from the covid uptrend impulse still works pretty ok as well.
So all of the above tells me that the macro trend is still intact, patterns repeat itself (?) and old channels are still respected somehow. And my idea is that right now it is crucial to hold 40-43k level we already touched (which is Fib 0.236) and to hopefully finally stabilize above 52-53k (which is Fib 0.382), so we can talk about the uptrend again. I know it all seems a little too much for a correction, but who knows. If we take the Fib retracement from 20 of july (the beginning of the main last uptrend) and draw it to the ATH, then we hitted 0.618 level recently as well, which is kinda ok. So if we can hold the uptrend right now, my goals would be 72k at least and 77k hopefully.
"I know that i know nothing", so feel free to doubt it. Let me know your thoughts.
So all of the above tells me that the macro trend is still intact, patterns repeat itself (?) and old channels are still respected somehow. And my idea is that right now it is crucial to hold 40-43k level we already touched (which is Fib 0.236) and to hopefully finally stabilize above 52-53k (which is Fib 0.382), so we can talk about the uptrend again. I know it all seems a little too much for a correction, but who knows. If we take the Fib retracement from 20 of july (the beginning of the main last uptrend) and draw it to the ATH, then we hitted 0.618 level recently as well, which is kinda ok. So if we can hold the uptrend right now, my goals would be 72k at least and 77k hopefully.
"I know that i know nothing", so feel free to doubt it. Let me know your thoughts.