This image is a 1-week timeframe chart for Bitcoin (BTC) price analysis on TradingView. It highlights key Fibonacci retracement and extension levels, halving cycles, and potential price targets.
Key Observations:
1. Fibonacci Levels:
Fibo 2.618 Breakout Target: Around $95,638 - $108,713.
Fibo 3.618 Sell Target: Around $130,412 - $143,506.
Fibo 1.618 Resistance Breakout: Around $66,307 - $74,379.
2. Halving Cycles:
Cycle 1: November 2017 to November 2021 (completed).
Cycle 2: November 2021 to November 2025 (currently ongoing).
3. Major Events:
A large upward movement ("Banana Candle") is projected, indicating a possible breakout toward higher Fibonacci levels.
The chart suggests a breakout test might occur before reaching new highs.
4. Volume Analysis:
Volume data is highlighted for the breakout areas. For example, 47 bars over 1,430 days with 3.36 million in volume.
5. Price Movement:
The price has shown significant movements after previous halvings, suggesting a potential repeat of historical patterns.
6. Potential Targets:
A breakout is anticipated, possibly reaching levels above $100,000.
The chart's annotations emphasize bullish momentum while considering historical patterns and Fibonacci targets.
Key Observations:
1. Fibonacci Levels:
Fibo 2.618 Breakout Target: Around $95,638 - $108,713.
Fibo 3.618 Sell Target: Around $130,412 - $143,506.
Fibo 1.618 Resistance Breakout: Around $66,307 - $74,379.
2. Halving Cycles:
Cycle 1: November 2017 to November 2021 (completed).
Cycle 2: November 2021 to November 2025 (currently ongoing).
3. Major Events:
A large upward movement ("Banana Candle") is projected, indicating a possible breakout toward higher Fibonacci levels.
The chart suggests a breakout test might occur before reaching new highs.
4. Volume Analysis:
Volume data is highlighted for the breakout areas. For example, 47 bars over 1,430 days with 3.36 million in volume.
5. Price Movement:
The price has shown significant movements after previous halvings, suggesting a potential repeat of historical patterns.
6. Potential Targets:
A breakout is anticipated, possibly reaching levels above $100,000.
The chart's annotations emphasize bullish momentum while considering historical patterns and Fibonacci targets.
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.
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.