Possible profit targets - a cautious estimate
As BTC has passed any former resistance zones, what can be expected?
Currently, due to the global political situation, with focus on an escalation of the war in Europe and the Near East, the BTC run is likely to continue, just as gold will.
As markets often move in 3 steps, the chart shows possible targets for 3 measured moves up.
The recent consolidation zone between 12th and 17th November was dominated by a strong bullish engulfing candle on the 15th. The following candles showed weak bears and the uptrend quickly resumed.
I'm expectin the next profit target at around 100K and the subsequent around 135K.
Then we will probably see a stronger pullback.
Currently, due to the global political situation, with focus on an escalation of the war in Europe and the Near East, the BTC run is likely to continue, just as gold will.
As markets often move in 3 steps, the chart shows possible targets for 3 measured moves up.
The recent consolidation zone between 12th and 17th November was dominated by a strong bullish engulfing candle on the 15th. The following candles showed weak bears and the uptrend quickly resumed.
I'm expectin the next profit target at around 100K and the subsequent around 135K.
Then we will probably see a stronger pullback.
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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.
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.