BTC update
BTC is at a pivotal fib range here and usually things that go to 90 like to climb to 100 for good measure before a correction. I added a fib extension here and you will quickly notice how nicely these fibs line up, this often happens in price discovery of an asset. The golden fib, "golden ratio" or 1.618/618 is noted here as a rejective area. The weekly stochastic RSI has some room, a cool off would be reasonable, the BBWP has plenty of expansion left for a run. I think we rip next week after this minor consolidation. The next fib is right around 100k, this makes sense. A solid 15% correction from there would line up with the momentum trend (purple line) and an intersecting fib as well.
Summary:
Long to 100k, correction to 85-87.5k
Summary:
Long to 100k, correction to 85-87.5k
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.