Bitcoin new pitchfork formation
After breaking the Long standing pitchfork from the december highs, a new pitchfork formation has taken shape and proven to pivot price. Near term highs in place at a key area with the 200DMA, 61.8% retrace off feb -> april decline, and 50% fib retrace off entire range. A dip should find support either at 61.8% retrace off 17th -> 25th climb & 38.2% retrace off 1st -> 25th climb, or lower at a retest of the long-term pitchfork & 38.2% pitchfork line. A continuation of the climb higher, the obvious near term target is a break of the 200DMA, and then the highs made in February.
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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.