BTCUSDT $48300 Wk#7 Update + PAXGBTC|UASDT.D
BTCUSDT $48300 Wk#7 Update PAXGBTC|UASDT.D Feb11 2024
BTCUSDT could potential prints it highest weekly close since January 2022.
This could be a significant signal in regard to the 4year Cycle.
The PAXGBTC has now broken below the 0.618fib at 0.046.
The next temporary support is the 0.786-0.888fib at 0.0367-0.0316.
Based on the USDT.D and the PAXGBTC, bulls are continuing to control the MACRO uptrend.
If the paxgbtc drops 11-23% from the current level of 0.041,
this would imply that btc could continue to rally up to 57-58k, which is the 0.888fib target
Once 57k is taken out, will start to look for new price discovery.
The USDT.D 2Dmacd has flipped negative after few weeks of consolidation.
If the downtrend continues, its next temporary support will start at 4.8% as described in the previous update
The BTC.D next resistance remain 57%, which is the 0.618fib.
The next level of resistance will be 60-63% on the 0.618fib is broken.
BTCUSDT could potential prints it highest weekly close since January 2022.
This could be a significant signal in regard to the 4year Cycle.
The PAXGBTC has now broken below the 0.618fib at 0.046.
The next temporary support is the 0.786-0.888fib at 0.0367-0.0316.
Based on the USDT.D and the PAXGBTC, bulls are continuing to control the MACRO uptrend.
If the paxgbtc drops 11-23% from the current level of 0.041,
this would imply that btc could continue to rally up to 57-58k, which is the 0.888fib target
Once 57k is taken out, will start to look for new price discovery.
The USDT.D 2Dmacd has flipped negative after few weeks of consolidation.
If the downtrend continues, its next temporary support will start at 4.8% as described in the previous update
The BTC.D next resistance remain 57%, which is the 0.618fib.
The next level of resistance will be 60-63% on the 0.618fib is broken.
