Bitcoin / TetherUSUpdated Bitcoin. Consolidation Before a Push Higher?
So far Bitcoin has been respecting my trendlines and Fibs very well. See previous idea
It's a bit insane, but we may just essentially be consolidating here before pushing higher past the last Fib extension without any real longer retrace.
Nothing can be said until 2 days from now when this weekly candle closes.
- If we close within this area of the Fib and the trendline, it would be very bullish and I would expect price to push up next week.
- If we fall below the 3.618 Fib, I expect we move back down to the green trendline.
It's a bit insane, but we may just essentially be consolidating here before pushing higher past the last Fib extension without any real longer retrace.
Nothing can be said until 2 days from now when this weekly candle closes.
- If we close within this area of the Fib and the trendline, it would be very bullish and I would expect price to push up next week.
- If we fall below the 3.618 Fib, I expect we move back down to the green trendline.
Note
Idea invalidated due to closing below the Fib area.
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Related publications
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.