BTC looks to have nicely broken the all-time-high like I was hoping for yesterday. Now the question I wonder is how far until it retraces.
I see a couple of options that seem most likely. There is a bit of resistance around the current price up past 61K, with some good possibilities to stay around or below 60K for a while. However, a large part of me wonders if BTC will make it all the way to 66K in the short term and then retrace from there (particularly as this will hit the upper part of the purple channel in the short term). Although it seems like a long shot (as it would be a long shot upward), it is well within the realm of possibility from what I can tell.
Although, I am still watching out for a fake out here (as it could still be the top of that green channel) and even a reversal is possible (which is scary since it has potential to lead to a double-top situation and a short at 43K), I now feel it is at least less likely.
Curious if any others have any strong ideas on any targets or even reversals. Opinions are welcome.
I see a couple of options that seem most likely. There is a bit of resistance around the current price up past 61K, with some good possibilities to stay around or below 60K for a while. However, a large part of me wonders if BTC will make it all the way to 66K in the short term and then retrace from there (particularly as this will hit the upper part of the purple channel in the short term). Although it seems like a long shot (as it would be a long shot upward), it is well within the realm of possibility from what I can tell.
Although, I am still watching out for a fake out here (as it could still be the top of that green channel) and even a reversal is possible (which is scary since it has potential to lead to a double-top situation and a short at 43K), I now feel it is at least less likely.
Curious if any others have any strong ideas on any targets or even reversals. Opinions are welcome.