I see this a good long opportunity on BIDEN if this pans out, the former res at 51.1 has become a support.. but if this breaks down, where are we headed?
...what if this chart goes symmetrical? It's already going down at exactly the same rate it went up and began to form symmetry.. a push to 8k could cause an H&S putting us at 3k! Fun times ahead..
Here are three possible outcomes for BTC in the future, considering fib levels, H&S/double top possibility, and current TA.
Blue is optimistic, orange is neutral/likeliest, green is pessimistic.
Using the fib levels from my previous idea , here are my thoughts for what BTC will do in the next couple days.
My thoughts are that BTC will likely go up to/retest 0.618 (11.2k), and then retrace to that important 9.6k level. This could either create a double top or double bottom afterwards - pay attention to the candles after 9.6k is reached.
Here are my thoughts for BTC in the future. As we can see the MA50 and MA200 intersected each other 3 times before the last bull run in 2015-16, this is the market produces an uptick followed by capitulation followed by a bull run. The same may happen again within the next year.
