Bitcoin appears to be having a stronger pullback that is actually showing up on the daily.
I suspect we pullback into the 2000 region where there is buy zone based on a 50% retrace of parabolic move from prior all time high(ATH) to the most recent highs at 2800.
Buy zone is right above some prior price structure that appears on the daily that should extra support is we dip that low. It depends on how aggressive buyers and sellers are.
If price finds support in the buy zone and buyers take control we can expect price targets to at least the 3200 price area. Going even higher is likely considering the usual parabolic FOMO tops bitcoin likes to put in.
I suspect we pullback into the 2000 region where there is buy zone based on a 50% retrace of parabolic move from prior all time high(ATH) to the most recent highs at 2800.
Buy zone is right above some prior price structure that appears on the daily that should extra support is we dip that low. It depends on how aggressive buyers and sellers are.
If price finds support in the buy zone and buyers take control we can expect price targets to at least the 3200 price area. Going even higher is likely considering the usual parabolic FOMO tops bitcoin likes to put in.
Note
ETH already smashed to new highs while BTC has barely retraced 61.8% of the sell off. Buyers are stepping it up finally. New highs by this weekend?Note
Hitting new highs :)Target leve at 3200 should not take long and we likely go higher. FOMO 5000?
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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.