BitcoinShort
[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.
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.