BTC weekly Update
So far BTC has been following my pattern from my previous post to a tee. Right now we got rejected at 7600 which is where the white downward long term trendline is. Now expect a pullback to the first major support line of 6800. If 6800 holds up and we breakout on the next attempt ladies and gentleman the bull run will commence. If we get rejected again we will most likely look for support at 6800 or breakdown again towards 6k. Ideally, the ultimate bottom following this formation in this falling wedge would be the .78 fibonacci with a target of 4800 BTC . However, the fundamentals have been very positive lately that the likely scenario to occur would be a breakout after we get this pull back. This is not financial advice just my opinion! cheers :)
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.