BITCOIN - an analyst with the Fibonacci tool.
Updated
At the weekly timeframe, HI-LOW of the big sideboard was marked yellow.
Local LOW at $3122 was not too much.
We can assume that the growth should continue.
Hi at $1,880, that was a fall correction from $1,966.
Hi 13880$ and LOW 3644$.
We are now at the level of 0.38 falling motion.
We are also under the level of 0.78 marked by the blue zone.
The moving averages say that the price may rise still.
Bitcoin broke through all the possible local resistances and took over the last months.
Now at least we should test 10500 normally,
there may even be an attempt to drive the price by 12,000 by the end of June.
So far, everything looks very bullish.
Yesterday, we got an impulse and ran the whole rang up. It is important to gain a foothold over the Local Support, and then the target will be the Primary Resistance. Bull/Bear zone ($9300-9480). If the price returns to it in the next week, the break-up of the range will be called into question. The price going under this zone ($9300) will mean that the break-up was false, and it was just a collection of shorts stops and liquidations before a deeper correction. And to confirm my idea: tradingview.com/chart/XBTUSD/VTInKsI6-Bitcoin-a-new-global-sales-fixation/.
Push ❤️ if you think this is a useful idea!
Before to trade my ideas make your own analysis.
Thanks for your support!
Local LOW at $3122 was not too much.
We can assume that the growth should continue.
Hi at $1,880, that was a fall correction from $1,966.
Hi 13880$ and LOW 3644$.
We are now at the level of 0.38 falling motion.
We are also under the level of 0.78 marked by the blue zone.
The moving averages say that the price may rise still.
Bitcoin broke through all the possible local resistances and took over the last months.
Now at least we should test 10500 normally,
there may even be an attempt to drive the price by 12,000 by the end of June.
So far, everything looks very bullish.
Push ❤️ if you think this is a useful idea!
Before to trade my ideas make your own analysis.
Thanks for your support!
Note
We can consider this movement as a false breakthrough and gathering of feet, which means going to the opposite part of the whole rang. Preliminarily to the $7800-8200 zone. Maybe lower... while shopping is best avoided.Note
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