Yo fam, check out this BTC analysis using Fibonacci levels
Scenario 1 (1st Option)
Retracement: Price dipped to the 61.8% Fib level ($62,070.75).
Observation: After hitting this level, price started to recover.
Prediction: If we stay above 61.8%, we could move up to hit resistance at $66,535.25 (38.2%) and $69,049.72 (23.6%).
Outlook: Breaking past $69,049.72 means we’re likely heading to and beyond $73,114.22.
Scenario 2 (2nd Option)
Retracement: Price might drop further to the 78.6% Fib level ($59,571.38).
Observation: Here, price finds support before bouncing back.
Prediction: If support at $59,571.38 holds, we could see a climb back up to test the higher resistance levels.
Outlook: This scenario could mean a deeper correction, but the bounce back potential is strong.
Final Thoughts
Breaking Resistance: Key is breaking $69,049.72. Staying above means a strong bullish trend.
Crucial Support: Watch $62,070.75 (61.8%). Dropping below could mean a dip to $59,571.38 (78.6%) before a recovery.
Retracement: Price dipped to the 61.8% Fib level ($62,070.75).
Observation: After hitting this level, price started to recover.
Prediction: If we stay above 61.8%, we could move up to hit resistance at $66,535.25 (38.2%) and $69,049.72 (23.6%).
Outlook: Breaking past $69,049.72 means we’re likely heading to and beyond $73,114.22.
Scenario 2 (2nd Option)
Retracement: Price might drop further to the 78.6% Fib level ($59,571.38).
Observation: Here, price finds support before bouncing back.
Prediction: If support at $59,571.38 holds, we could see a climb back up to test the higher resistance levels.
Outlook: This scenario could mean a deeper correction, but the bounce back potential is strong.
Final Thoughts
Breaking Resistance: Key is breaking $69,049.72. Staying above means a strong bullish trend.
Crucial Support: Watch $62,070.75 (61.8%). Dropping below could mean a dip to $59,571.38 (78.6%) before a recovery.
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.
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.