Bitcoin has achieved a significant milestone by breaking and closing above the downtrend trendline, indicating a highly positive price action. Following a minor pullback, we anticipate the price to continue its ascent toward the uptrend trendline.
However, there's an intriguing aspect to consider: BTC has two potential targets, either reaching the 161.8% Fibonacci level at $31.6k or the 1061.8% Fibonacci level at $43k. Currently, we advise adopting a cautious approach, but regardless of the outcome, this presents a captivating buying opportunity for both Bitcoin and altcoins. The timeframe for this opportunity could be either short-term or mid-term. Exciting times lie ahead.
However, there's an intriguing aspect to consider: BTC has two potential targets, either reaching the 161.8% Fibonacci level at $31.6k or the 1061.8% Fibonacci level at $43k. Currently, we advise adopting a cautious approach, but regardless of the outcome, this presents a captivating buying opportunity for both Bitcoin and altcoins. The timeframe for this opportunity could be either short-term or mid-term. Exciting times lie ahead.
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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.
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.