Unveiling the future: My Bitcoin Strategy
Trading Strategy Description
Currently, I believe that the market is following an A-B-C-D pattern, similar to the one observed between March and August 2023.
Price Targets
The first downside target could be around $51,000, which also represents the 50% Fibonacci retracement of the uptrend that started in January 2023. However, the price could extend down to around $42,000 during July.
Fundamental Analysis
This technical scenario is supported by fundamental factors:
Recovery Prospects
By the end of July, I anticipate the RSI (Relative Strength Index) to reach a position similar to that of September 2023, allowing for a new growth phase. This could drive the price to an initial target of $104,000, with further extension up to $135,000, reaching the fifth trendline.
I have also marked a target of $214,000, although this is less likely.
Conclusion
Once these targets are reached, the RSI divergence could signal the end of the bull cycle.
Disclaimer:
The information provided in "My Bitcoin Trading Strategy" is for educational and informational purposes only. It does not constitute financial advice, investment advice, trading advice, or any other sort of advice and you should not treat any of the content as such. The ideas and strategies shared in this document represent personal opinions and should not be taken as recommendations for making investment decisions. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The author assumes no responsibility for any losses or damages resulting from the use of this information. Investing in cryptocurrencies involves a high level of risk and may not be suitable for all investors.
Currently, I believe that the market is following an A-B-C-D pattern, similar to the one observed between March and August 2023.
Price Targets
The first downside target could be around $51,000, which also represents the 50% Fibonacci retracement of the uptrend that started in January 2023. However, the price could extend down to around $42,000 during July.
Fundamental Analysis
This technical scenario is supported by fundamental factors:
Recovery Prospects
By the end of July, I anticipate the RSI (Relative Strength Index) to reach a position similar to that of September 2023, allowing for a new growth phase. This could drive the price to an initial target of $104,000, with further extension up to $135,000, reaching the fifth trendline.
I have also marked a target of $214,000, although this is less likely.
Conclusion
Once these targets are reached, the RSI divergence could signal the end of the bull cycle.
Disclaimer:
The information provided in "My Bitcoin Trading Strategy" is for educational and informational purposes only. It does not constitute financial advice, investment advice, trading advice, or any other sort of advice and you should not treat any of the content as such. The ideas and strategies shared in this document represent personal opinions and should not be taken as recommendations for making investment decisions. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The author assumes no responsibility for any losses or damages resulting from the use of this information. Investing in cryptocurrencies involves a high level of risk and may not be suitable for all investors.
Note
no worries... we are moving according to the plan!!
Disclaimer
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