BITCOIN @ $74k IS STRONG BULLISH POTENTIAL BY FIB.
The charts provided show the Bitcoin (BTC) price movement on different timeframes: 1-week (1W), 3-day (3D), and 1-day (1D). These charts are often used in technical analysis to understand price trends and potential future movements. Here’s a breakdown of the pullback and potential price targets based on the charts:
1-Week (1W) Chart
Price Levels and Fibonacci Retracement:
The recent pullback brought the price to the 0.5 Fibonacci retracement level around $56,283.08.
This level acted as a strong support and the price has rebounded from here.
Potential Targets:
The primary target is around $74,065.17 (the previous high).
The Fibonacci extension suggests potential targets at $83,667.49 (0.27 extension) and $96,043.82 (0.618 extension).
3-Day (3D) Chart
Price Levels and Fibonacci Retracement:
Similar to the 1W chart, the pullback reached the 0.5 Fibonacci level around $56,255.55.
The 0.382 Fibonacci retracement level at $60,445.62 has been broken to the upside.
Potential Targets:
The immediate target is $74,010.10 (previous high).
The next target is $83,597.56 (0.27 extension) and then $95,954.72 (0.618 extension).
1-Day (1D) Chart
Price Levels and Fibonacci Retracement:
The 0.5 Fibonacci level around $56,258.33 was a key support during the pullback.
The price has broken above the 0.382 Fibonacci level at $60,449.06.
Potential Targets:
Immediate resistance and target is around $74,015.66 (previous high).
Subsequent targets are $83,604.62 (0.27 extension) and higher at $95,963.34 (0.618 extension).
General Analysis
Pullback and Support: Bitcoin experienced a pullback to the 0.5 Fibonacci retracement level, indicating this as a strong support zone.
Rebound and Momentum: The rebound from this level suggests bullish momentum, with price targets converging around the $74,000 mark (previous highs) as the first significant resistance.
Extensions and Projections: The Fibonacci extensions across the charts point to potential future targets in the $83,600-$96,000 range, suggesting strong bullish potential if the price can maintain its upward trajectory.
1-Week (1W) Chart
Price Levels and Fibonacci Retracement:
The recent pullback brought the price to the 0.5 Fibonacci retracement level around $56,283.08.
This level acted as a strong support and the price has rebounded from here.
Potential Targets:
The primary target is around $74,065.17 (the previous high).
The Fibonacci extension suggests potential targets at $83,667.49 (0.27 extension) and $96,043.82 (0.618 extension).
3-Day (3D) Chart
Price Levels and Fibonacci Retracement:
Similar to the 1W chart, the pullback reached the 0.5 Fibonacci level around $56,255.55.
The 0.382 Fibonacci retracement level at $60,445.62 has been broken to the upside.
Potential Targets:
The immediate target is $74,010.10 (previous high).
The next target is $83,597.56 (0.27 extension) and then $95,954.72 (0.618 extension).
1-Day (1D) Chart
Price Levels and Fibonacci Retracement:
The 0.5 Fibonacci level around $56,258.33 was a key support during the pullback.
The price has broken above the 0.382 Fibonacci level at $60,449.06.
Potential Targets:
Immediate resistance and target is around $74,015.66 (previous high).
Subsequent targets are $83,604.62 (0.27 extension) and higher at $95,963.34 (0.618 extension).
General Analysis
Pullback and Support: Bitcoin experienced a pullback to the 0.5 Fibonacci retracement level, indicating this as a strong support zone.
Rebound and Momentum: The rebound from this level suggests bullish momentum, with price targets converging around the $74,000 mark (previous highs) as the first significant resistance.
Extensions and Projections: The Fibonacci extensions across the charts point to potential future targets in the $83,600-$96,000 range, suggesting strong bullish potential if the price can maintain its upward trajectory.
Disclaimer
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