BTCUSD Long Run target 89,000$
1. Bullish Flag continuation pattern which support Bulls if Day closing end at 67,000$ and above.
2. ABCD pattern formation where exact retracement occurred at Fib 0.50 point which also support Bulls.
3. Harmonic ABCD pattern Point D expected to be completed at 89,000$ in coming days if price remain above 67,000$.
4. Fundamentally war and war like activities boost market prices.
Bullish ABCD Pattern Summary.
AB Leg: The initial move starts from point A (low) to point B (high).
BC Leg: The price then retraces from point B to point C. This retracement typically aligns with a Fibonacci level, such as 0.618 or 0.786 of the AB leg.
CD Leg: After reaching point C, the price moves in the direction of the original AB leg, extending to point D. The length of the CD leg is typically equal to the length of the AB leg.
Entry Point: Traders often look to enter a long position near point D, expecting a reversal.
Confirmation: Fibonacci extensions, previous support/resistance levels, and other technical indicators are used to confirm the validity of the pattern.
2. ABCD pattern formation where exact retracement occurred at Fib 0.50 point which also support Bulls.
3. Harmonic ABCD pattern Point D expected to be completed at 89,000$ in coming days if price remain above 67,000$.
4. Fundamentally war and war like activities boost market prices.
Bullish ABCD Pattern Summary.
AB Leg: The initial move starts from point A (low) to point B (high).
BC Leg: The price then retraces from point B to point C. This retracement typically aligns with a Fibonacci level, such as 0.618 or 0.786 of the AB leg.
CD Leg: After reaching point C, the price moves in the direction of the original AB leg, extending to point D. The length of the CD leg is typically equal to the length of the AB leg.
Entry Point: Traders often look to enter a long position near point D, expecting a reversal.
Confirmation: Fibonacci extensions, previous support/resistance levels, and other technical indicators are used to confirm the validity of the pattern.
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