Updated

BTC Fib Channel 1.618 Extension Bounce and Target

You can see how price follows these fibs like a magnet. If we extrapolate from previous reactions at these fib levels we get a next possible top around 55-57k.

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up to 60k rather

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50-52k will be tough to break

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Could see a repeat of June 21 to July 21 and retest ~41k in a month. In which case I would say watch out for 45-47k

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But that may nullify my 57k target. So maybe more like a couple of weeks to test ~41k.

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snapshot

Bottom vwap bounced. Watching top vwap

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snapshot

69 bars on the 3 day...

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snapshot

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snapshot

Adjusted the target to better match its counterpart

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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.