BTC Back to 58k by Mid March
A potential scenario of reaching 58k in 14 days.
Tools:
Bottom formation on Candles around 43k. (Bullish Engulfing pattern followed by Three Marching Soldiers.)
Bullish divergence on the RSI 14.
Potential key price levels by Fibs on the Micro scale.
Assumption: The top of the last wave (42k) is the baseline for this correction.
Most likely it won't be a straight line to 58k, but a curve visiting multiple key price levels and touching the 4h 50MA before hitting the last ATH.
Tools:
Bottom formation on Candles around 43k. (Bullish Engulfing pattern followed by Three Marching Soldiers.)
Bullish divergence on the RSI 14.
Potential key price levels by Fibs on the Micro scale.
Assumption: The top of the last wave (42k) is the baseline for this correction.
Most likely it won't be a straight line to 58k, but a curve visiting multiple key price levels and touching the 4h 50MA before hitting the last ATH.
Comment:
Halfway there. BTC price visited some key levels indicated on the fibs. Now it's on the way to 58k. A backtest to 50k level is possible.
Comment:
58k Target reached.