A clear rejection off the 0.5 fib retracement sets an algo target of a little above $8000 for bitcoin
This is greater than 2.5x off the previous cycle low
This would be an 87% retracement from ATH (a fairly typical boom-->bust retracement size for bitcoin)
Target invalidated with a monthly close above 36k
This is greater than 2.5x off the previous cycle low
This would be an 87% retracement from ATH (a fairly typical boom-->bust retracement size for bitcoin)
Target invalidated with a monthly close above 36k
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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.