As illustrated, I'm visualizing what the next impulsive wave could look like.
Price has broken out of a major daily trend line.
It makes sense for the week to have started trading lower to find it's low and potentially bounce with strength sometime this coming up week and into the next.
The next pivot area is between the $82,000 - $80,000 range based on previous week's lows and daily low levels.
An interesting buy opportunity is forming and the potential entry is illustrated as the "pivot area" marked in yellow.
Then we have a major pivot range near the $100,000 psychological price.
.
This could be a price where some short term traders get out "in case it's just a pull back before a collapse" type of decision.
We can't ignore how much price consolidated between 100,000 and 96,000; and so that is the next stepping stone for BTC before breaking to ATH's of at least $120,000.
My personal target is set at the 161.8% extension level as illustrated.
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GOOD LUCK!
Persa
Price has broken out of a major daily trend line.
It makes sense for the week to have started trading lower to find it's low and potentially bounce with strength sometime this coming up week and into the next.
The next pivot area is between the $82,000 - $80,000 range based on previous week's lows and daily low levels.
An interesting buy opportunity is forming and the potential entry is illustrated as the "pivot area" marked in yellow.
Then we have a major pivot range near the $100,000 psychological price.
.
This could be a price where some short term traders get out "in case it's just a pull back before a collapse" type of decision.
We can't ignore how much price consolidated between 100,000 and 96,000; and so that is the next stepping stone for BTC before breaking to ATH's of at least $120,000.
My personal target is set at the 161.8% extension level as illustrated.
--
GOOD LUCK!
Persa
Trade active
Price successfully reaching the major pivot area between $96,000 and $100,000 ; currently shy of $96,000.There could be a retracement, although I don't personally think it would be too significant before price breaking through $96,000 - $97,000.
I believe that if there were to be another retest near the $85,000 - $80,000 range, the selling point of such probable drop would be close to the $100,000 psychological price barrier, if there would even be such drop...
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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.