whatsthismean
Fib levels are set 0 to the previous cycle's 0.236 low and 1 level to the top of the channel at the time interval. Rise to 140k and fall to 47k.
The ETF excitement has been postponed until beginning of 2024. Market wants a correction. So here is the target.
BTC has double tested descending trendline from the ATH as support, and broken above major resistance at $25.2k. If it retests and holds $25.2k as support, a H&S will complete and become valid giving a target of $40k.
Bear market is coming to a close. We've had almost a year of consolidation/accumulation. Broken above the descending trendline and retested twice as support. Wouldn't be surprised to see more consolidation, But I think the bear arket low has come and gone.
BTC has broken above the descending resistance trendline from the ATH. I would like to see a strong retest of the trendline as support, then move upward.