Hey guys, please let me know what you think of these 2 situations. They are oddly similar.
This is a 3M chart, so it's a very long time period. The current 3M chart is for January - March.
In 2016 halving, BTC did a .5 Fib retracement before it 40x from ~$500 to ~$20,000
The current price retracement if .5 was hit, BTC would be sitting at ~$32,300.
I am not saying that .5 would be hit, but it's a probability.
Again, it could be hit anywhere from January to March, we will see.
Sure BTC could go up to test the
49K resistance, but let's keep this in mind 😃
This is a 3M chart, so it's a very long time period. The current 3M chart is for January - March.
In 2016 halving, BTC did a .5 Fib retracement before it 40x from ~$500 to ~$20,000
The current price retracement if .5 was hit, BTC would be sitting at ~$32,300.
I am not saying that .5 would be hit, but it's a probability.
Again, it could be hit anywhere from January to March, we will see.
Sure BTC could go up to test the
49K resistance, but let's keep this in mind 😃Note
First target is .382 at around $36,000Second target is .5 at around $32,000
You have to understand that these charts run on mathematical algorithm, not ETF or BlackRock or whatever news will always come up with 🙂
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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.