I'v said it before and this looks more and more as my ideas is coming to play.
We saw a big move over 6 month period, from 3,1k to 13,8k.
We can argue as much as we want about what caused the mini bull run, but one thing is for.. some ppl gained a lot and a lot of people lost a lot. Because it was not real, it was fomo and scams drived btc price up to this highs.
But lets focus on the future.
What lays ahead is some important levels.
Fib.ret 0,50% seems not to hold (at same time as MA100 is pushing trend downwards) and
next target to test is around 6,4k (Fib.ret 0,618%.
I still believe that we will retest the green area of 5.5 k - 5k.
What we can find there is:
+ Fib.ret 0,786%
+ weekly MA200
+ 2week MA100
+ Bottom of a bull flag
Short term 1-3 month: Short
Long term +3 month: Bullish
We saw a big move over 6 month period, from 3,1k to 13,8k.
We can argue as much as we want about what caused the mini bull run, but one thing is for.. some ppl gained a lot and a lot of people lost a lot. Because it was not real, it was fomo and scams drived btc price up to this highs.
But lets focus on the future.
What lays ahead is some important levels.
Fib.ret 0,50% seems not to hold (at same time as MA100 is pushing trend downwards) and
next target to test is around 6,4k (Fib.ret 0,618%.
I still believe that we will retest the green area of 5.5 k - 5k.
What we can find there is:
+ Fib.ret 0,786%
+ weekly MA200
+ 2week MA100
+ Bottom of a bull flag
Short term 1-3 month: Short
Long term +3 month: Bullish
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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.