BITCOIN immediate target is 78k based on this SPX fractal.
Bitcoin (BTCUSD) is currently repeating on its 4H time-frame a fractal of S&P500 (SPX) on its 1W time-frame. As BTC is pulling back towards the 4H MA50 (blue trend-line) and a Bullish Cross is about to be formed, the symmetric development on the S&P500 fractal indicates that this Bullish Cross should be treated as a Buy Signal. On S&P500 it started the aggressive rally that the market is currently still on.
As you can see, both fractals started with a Bearish Megaphone after their respective tops, hit and held their MA200 (orange trend-line), while a MA50/ MA100 Bearish Cross marked the Bottom. The Channel Up that emerged led the recovery. From an RSI perspective a similar Channel Up took both to the overbought territory after an oversold Double Bottom, which was an additional Buy Signal.
As a result, for BTC we are now on the 0.786 rejection phase and after this pull-back is completed, the S&P500 fractal suggests that the target should be just shy off the 1.382 Fibonacci extension. We therefore have $78000 as our immediate Target.
Do you think it can be achieved on such a short period of time? Feel free to let us know in the comments section below!
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
As you can see, both fractals started with a Bearish Megaphone after their respective tops, hit and held their MA200 (orange trend-line), while a MA50/ MA100 Bearish Cross marked the Bottom. The Channel Up that emerged led the recovery. From an RSI perspective a similar Channel Up took both to the overbought territory after an oversold Double Bottom, which was an additional Buy Signal.
As a result, for BTC we are now on the 0.786 rejection phase and after this pull-back is completed, the S&P500 fractal suggests that the target should be just shy off the 1.382 Fibonacci extension. We therefore have $78000 as our immediate Target.
Do you think it can be achieved on such a short period of time? Feel free to let us know in the comments section below!
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.