Looks like Bitcoin is preparing to make its final drop to $5400
which is the 78.6% retracement from $3k to $14000
setting up a nice launch pad to send us to new all time highs!
We could break through the channel with force or maybe see slight resistance dragging us along $5500ish
but as soon as we break the channel after bouncing from $5400 we will see the new impulse send us to the moon!
This image actually turned out right. Not sure why main image shifted
which is the 78.6% retracement from $3k to $14000
setting up a nice launch pad to send us to new all time highs!
We could break through the channel with force or maybe see slight resistance dragging us along $5500ish
but as soon as we break the channel after bouncing from $5400 we will see the new impulse send us to the moon!
This image actually turned out right. Not sure why main image shifted
Note
Fib retracement levels based on scaleLinear: ~$5400 for the 78.6%
Logarithmic: ~$5500 for the 61.8% (Golden Pocket)
Note
Estimating a descending weekly rangeNote
Probably going to drop faster then I anticipated
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.