BTCUSDT 1W The last bullish Parabolic where are you?
BTC's prediction on the Weekly chart. From the recent performance, the market is making parabolic pattern. Yes, BTC still lacks one upward climb. Technically, by using Inverted Shoulder Head Shoulder, Ascending Channel, market can be predicted for these insights:
1. BTC still has a chance to touch the green horizontal trendline, which is in the 25K2 area.
2. But BTC has a maximum correction limit of 22K800, if the market opens weekly or daily below that, it can be predicted that there will be no bullishness for the next 12 months since the price is below that.
3. From Inv.SHS Pattern and horizontal S/R can be predicted and make sure the target is between 33k8 to 37k9.
4. However, the parabolic pattern has a bonus in the last push, so it is possible for the parabolic to go crazy, touching 48K or even 50K after that the market will hibernate for 18 months, aka bearish maximum pain.
1. BTC still has a chance to touch the green horizontal trendline, which is in the 25K2 area.
2. But BTC has a maximum correction limit of 22K800, if the market opens weekly or daily below that, it can be predicted that there will be no bullishness for the next 12 months since the price is below that.
3. From Inv.SHS Pattern and horizontal S/R can be predicted and make sure the target is between 33k8 to 37k9.
4. However, the parabolic pattern has a bonus in the last push, so it is possible for the parabolic to go crazy, touching 48K or even 50K after that the market will hibernate for 18 months, aka bearish maximum pain.
Related publications
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.