Bitcoin (BTCUSD) is exhibiting a promising bullish structure on the 15-minute chart, indicating the possibility of further upward momentum. The Elliott Wave pattern shows a completed wave (4) correction, suggesting that we may be on the brink of wave (5) to the upside.
Key Fibonacci extension levels to monitor are:
0.618 at 61,698
1.0 at 62,584
1.618 at 64,017
These levels represent potential targets for the next impulsive wave, offering a clear roadmap for possible price action. Traders should consider entering long positions as the price moves towards these targets, with appropriate risk management strategies in place.
This setup offers a strategic opportunity to capitalize on Bitcoin's continued bullish trend. Keep an eye on the price action around these Fibonacci levels for potential profit-taking zones. Happy trading!
Key Fibonacci extension levels to monitor are:
0.618 at 61,698
1.0 at 62,584
1.618 at 64,017
These levels represent potential targets for the next impulsive wave, offering a clear roadmap for possible price action. Traders should consider entering long positions as the price moves towards these targets, with appropriate risk management strategies in place.
This setup offers a strategic opportunity to capitalize on Bitcoin's continued bullish trend. Keep an eye on the price action around these Fibonacci levels for potential profit-taking zones. Happy trading!
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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.