I am new to trading and based on what I have learned so far I would like to share this idea and maybe get some constructive feedback from the experts in this community. :)
My observations so far:
1) BTC is following FIB channel nicely
2) It broke the triangle upwards
3) It broke the resistance of 61500 if was hitting so far, now this can act as future support zone
4) Based on FIB channel and this years TPs, new TP could be 70000$
5) Could retrace back to 0.61, which is 61000, before bouncing back up
THIS IS NOT FINANCIAL ADVISE, or any advice. I am new to this and I am looking for expert opinion if I am on the right track.
Thank you! Safe trading! :)
My observations so far:
1) BTC is following FIB channel nicely
2) It broke the triangle upwards
3) It broke the resistance of 61500 if was hitting so far, now this can act as future support zone
4) Based on FIB channel and this years TPs, new TP could be 70000$
5) Could retrace back to 0.61, which is 61000, before bouncing back up
THIS IS NOT FINANCIAL ADVISE, or any advice. I am new to this and I am looking for expert opinion if I am on the right track.
Thank you! Safe trading! :)