According to my analytical view, BTC is already in the Demand Zone position, with the Average Price at 38169, and has been rejected on the Daily Moving Average (WMA-1000) line. And also forming the Second Leg of the Wyckoff Pattern (H4 Timeframe). Thus, it’s expected that BTC will return to its main trend, which is going up.
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Actually I've saved this image analysis on 15/02/2022, and I'm trying to share it in my current analysis publication.
Hopefully my analysis can be a second opinion. And happy trading to y’all.
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Profit target based on Fibonacci Extension tool: TP1 80k (Fib. 1.272) & TP2 92k (Fib. 1.618).
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There is a change in analysis, and this idea is no longer valid. Thank you.
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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.