If we look at the 1D BTC/USDT graph we can identify some Fibonacci retracement levels.
We can also see a major bullish trending channel that is pretty much dictating our highs and lows.
I think that:
BTC can drop to a value between $51k and $53K and still continue the bullish trend.
This means that we would go back to the 0.5 level.
A new high could be expected to reach around $102K in the coming month, or so.
Time to buy the dip.
You read it here first.:)
We can also see a major bullish trending channel that is pretty much dictating our highs and lows.
I think that:
BTC can drop to a value between $51k and $53K and still continue the bullish trend.
This means that we would go back to the 0.5 level.
A new high could be expected to reach around $102K in the coming month, or so.
Time to buy the dip.
You read it here first.:)
Trade active:
Exactly as expected.
BTC may dip a little more before recovery.
BTC may dip a little more before recovery.
Trade active:
12 days after publishing this and BTC is behaving exactly as expected.
The daily chart is about to confirm the trend reversal. We need to close above $59398.9 (previous high) in order to see a move to the up side.
If we are not able to break that, we will see some further selling momentum.
We surpassed the 0.5 Fibonacci level. Should we hold this trend we are on the right track to reach 0.382 and retest ATH.
We should be able to see that within the next 8 days with an 18.5% increase.
Keep in mind that all this is only valid if we break the previous high and reversal is confirmed.
trade safe.
The daily chart is about to confirm the trend reversal. We need to close above $59398.9 (previous high) in order to see a move to the up side.
If we are not able to break that, we will see some further selling momentum.
We surpassed the 0.5 Fibonacci level. Should we hold this trend we are on the right track to reach 0.382 and retest ATH.
We should be able to see that within the next 8 days with an 18.5% increase.
Keep in mind that all this is only valid if we break the previous high and reversal is confirmed.
trade safe.