Hello Everyone,
Recalling from my last post, I had given my analysis on where I believe bitcoin is headed. Again, I believe we are headed up. The biggest indicators being the Inverted Head and Shoulders pattern on the 12 hour and the MACD cross over with waning selling momentum.
So what are my targets?
For a conservative target, I believe we will see somewhere around $64,000 before either another leg up or a move sideways. This falls in line perfectly with our Fib Extension and our current Ascending Triangle shown in yellow. If we break this triangle and continue upwards, I believe $84,000 is our big target before we have some more correction. $84,000 falls in line with our overall trend line (shown in green) and our Fib Extension tool. The green line has been consistent which when touched led to a correction.
I wanted to keep this one short and simple for everyone today. Please leave a thumbs up if you agree or comment any price targets you have in mind.
As always, manage your risk, be patient, and good luck trading!
Recalling from my last post, I had given my analysis on where I believe bitcoin is headed. Again, I believe we are headed up. The biggest indicators being the Inverted Head and Shoulders pattern on the 12 hour and the MACD cross over with waning selling momentum.
So what are my targets?
For a conservative target, I believe we will see somewhere around $64,000 before either another leg up or a move sideways. This falls in line perfectly with our Fib Extension and our current Ascending Triangle shown in yellow. If we break this triangle and continue upwards, I believe $84,000 is our big target before we have some more correction. $84,000 falls in line with our overall trend line (shown in green) and our Fib Extension tool. The green line has been consistent which when touched led to a correction.
I wanted to keep this one short and simple for everyone today. Please leave a thumbs up if you agree or comment any price targets you have in mind.
As always, manage your risk, be patient, and good luck trading!