[BTC] Ramblings of a Fibonacci Trader
Updated
Excuse the mess, but I had to post this.
Historically we've always seen the price re-test new substantial highs. I predict a re-test upwards of 49k within the next 4-5 weeks.
Till then, expect the price to trend lower, potentially dipping below 38k (this is a solid buy-in spot) before re-testing.
Important things to note - we've approached (and tested) the 1:1 (midpoint angle) on the Gann Fan. Crossing and staying above this trendline means that 69k is achievable this year. If momentum fails, we risk a sell-off back down below 32k and can look at hitting 69 in 2025 again.
The plan: trade the re-test, sell the profits (like everyone else), continue short till 38K.
Historically we've always seen the price re-test new substantial highs. I predict a re-test upwards of 49k within the next 4-5 weeks.
Till then, expect the price to trend lower, potentially dipping below 38k (this is a solid buy-in spot) before re-testing.
Important things to note - we've approached (and tested) the 1:1 (midpoint angle) on the Gann Fan. Crossing and staying above this trendline means that 69k is achievable this year. If momentum fails, we risk a sell-off back down below 32k and can look at hitting 69 in 2025 again.
The plan: trade the re-test, sell the profits (like everyone else), continue short till 38K.
Note
Price reached a low of 38,500.Currently approaching the re-test of 49k.
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