#BTC
On 1 Month scale Cup has already formed and now handle is forming. If it is formed then we are likely to see a Bull run which may start by end Aug 2024 (if Fib 0.38 is retraced) or end Jun 2024 even (if Fib 0.236 support is activated) and will continue till Aug 2026.
Remember the analysis is based on monthly scale so it is for those who have patience and prefer the trades on fundamentals of coins.
On 1 Month scale Cup has already formed and now handle is forming. If it is formed then we are likely to see a Bull run which may start by end Aug 2024 (if Fib 0.38 is retraced) or end Jun 2024 even (if Fib 0.236 support is activated) and will continue till Aug 2026.
Remember the analysis is based on monthly scale so it is for those who have patience and prefer the trades on fundamentals of coins.
Note
Stop Loss should be placed at HL which is around 59000Note
As analyzed earlier, price chart has already retraced to Fib 0.38 level (USD 50313). Therefore, I expect it to retest it at least once more and may even retrace to Fib 0.50 (USD 42K to 45K ) Or Fib 0.618 (36K). Also note that, Whales will create such a panic in the market that people will start selling once price starts to dip below 45K. Therefore, price may take big dips for a couple of days, once that move starts. A higher risk-taking trade would be to just place Buy Limit Order at around 40K to catch the bottom and not to place a Stop Loss. Once again, I reiterate that one must be mindful of the Risk associated with such trades.
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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.