this is just an idea of where BTC could be headed for the next year (2024)
not taking in count halving or any other external info that isn't price action
if price goes above fibo golden zone 0.618 and closes above, consolidates and bounces on it, then the uptrend will continue, higher price for BTC will be more likely
but if price gets rejected, does a wick and closes below the 0.618 fibo zone, then we could expect another downtrend, bear market for a year at least
just like what happened in 2019/2020
with COVID marking the end of the bear market, that followed with a insane bull run after (4k to 69k
BTC) that last 1 year and a half
this is just P.A theories
NFA
educational purpose only
not taking in count halving or any other external info that isn't price action
if price goes above fibo golden zone 0.618 and closes above, consolidates and bounces on it, then the uptrend will continue, higher price for BTC will be more likely
but if price gets rejected, does a wick and closes below the 0.618 fibo zone, then we could expect another downtrend, bear market for a year at least
just like what happened in 2019/2020
with COVID marking the end of the bear market, that followed with a insane bull run after (4k to 69k
BTC) that last 1 year and a halfthis is just P.A theories
NFA
educational purpose only
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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.