BTC Price Direction From Here, 4/13/23
History says we'll likely consolidate here for several weeks, probably between 28.5k and 30.7k, bouncing back and forth between the two several times.
After that:
An upside breakout would likely Land us in the value area from back in May 0f 2021. coming in between 33.7k and 40.2k. Then again we'll be ranging between the two levels.
However a downside breakout is more probable from an ascending parallel channel, price target would be any one of these FIB areas ( coming in between 21.2k-17.1k) or even a new lower low below 15.5k
It's also possible that both are true, we could continue in this parallel channel until May/June. At which point finally getting the downside breakout of the channel AND of the 2021 value area. Note that the Fibonacci retracement levels will change if a new higher high is put in
After that:
An upside breakout would likely Land us in the value area from back in May 0f 2021. coming in between 33.7k and 40.2k. Then again we'll be ranging between the two levels.
However a downside breakout is more probable from an ascending parallel channel, price target would be any one of these FIB areas ( coming in between 21.2k-17.1k) or even a new lower low below 15.5k
It's also possible that both are true, we could continue in this parallel channel until May/June. At which point finally getting the downside breakout of the channel AND of the 2021 value area. Note that the Fibonacci retracement levels will change if a new higher high is put in
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