YongTung | BITCOIN 2023 OUTLOOK
Updated
Hello dear friends and traders in TradingView community, happy new year! I wish you all make big profits in 2023.
Today I want to talk to you about BTCUSDT,
I made a few conclusions about Bitcoin.
Recently BTC price tested previous low and resistance level and failed,
At the moment the price trades near to support level $15527.26 (fibonacci 1.27 level).
I expect that price can make small correction to support level because I think price will make some responds at the support level.
I set up my first target locate at the previous low and support level $15527.26 (fibonacci 1.27 level).
And as you can see from the chart, there's a big bear flag that end of $12874.67 level (fibonacci 1.618 level).
Also, I think fibonacci 1.618 level is a extremely strong support level.
Therefore I set up second target at $12874.67 level (fibonacci 1.618 level).
If BTC price can reach fibonacci 0.886 support level, I think it's the best opportunity to buy.
Then I believe price will definitely bounce from support level and then start to pump.
So I set up my final target at $11303.94 (fibonacci 0.886 level).
Also I think BTC price will go to the neckline and resistance level $31011.84.
This is my opinion, I really hope it will be useful for you.
This is an article not financial advice, always do your own research.
And please don't forget to support this idea with your like and comment, It means a lot to me, thanks.
Be prepared and save your money. Make big profits!
Happy trading!
Today I want to talk to you about BTCUSDT,
I made a few conclusions about Bitcoin.
Recently BTC price tested previous low and resistance level and failed,
At the moment the price trades near to support level $15527.26 (fibonacci 1.27 level).
I expect that price can make small correction to support level because I think price will make some responds at the support level.
I set up my first target locate at the previous low and support level $15527.26 (fibonacci 1.27 level).
And as you can see from the chart, there's a big bear flag that end of $12874.67 level (fibonacci 1.618 level).
Also, I think fibonacci 1.618 level is a extremely strong support level.
Therefore I set up second target at $12874.67 level (fibonacci 1.618 level).
If BTC price can reach fibonacci 0.886 support level, I think it's the best opportunity to buy.
Then I believe price will definitely bounce from support level and then start to pump.
So I set up my final target at $11303.94 (fibonacci 0.886 level).
Also I think BTC price will go to the neckline and resistance level $31011.84.
This is my opinion, I really hope it will be useful for you.
This is an article not financial advice, always do your own research.
And please don't forget to support this idea with your like and comment, It means a lot to me, thanks.
Be prepared and save your money. Make big profits!
Happy trading!
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