BTC is forming a diamond for a well needed healthy pull back. The price target would be $50k minimum, that would be the .236 Fibonacci level. $47387.56 is the .382 and $45699.57 is .50. If we retrace < 50% it will show the strength in the current market.
We also have a RSI failure swing in play. When the 233 minute 14 RSI is crosses down and a candle closes with a value< 57 it is a sign of confirmation or entry.
We also have a RSI failure swing in play. When the 233 minute 14 RSI is crosses down and a candle closes with a value< 57 it is a sign of confirmation or entry.
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Diamond has played out larger than originally expected.
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Keep watch for something like this, price has gotten so far along the diamond and tighter. It breaking to the upside wouldn’t shock me the way things have been going.Note
Letting the price action fulfill the pattern. I don’t think we will re trace more than the .382 fib level. Price is making a bullish divergence on the 34m chart now, if it holds i think we will see the upside target $56153 but ill let PA tell me what to do.
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Looks like the upside will play and the rally will continue. Didt eben make it tp the .238 fib level.
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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.