Each time BTC has put in a major top, it has retraced back to the 786 fib of the macro low to high. From there, BTC has tested the 0.5 and when closed above, has seen some pretty large rallies.
This is the third time BTC has retraced to the 786 fib and reacted off it. Out of three instances, one test of the 0.5 and subsequent closure above led to a fake out and price retested the 786 before the bull market officially began.
This is why I see the 33k region as particularly significant for BTC. If BTC can close above there, it would be a closure above the 0.5 which would lead to a test of the 618 (where price has always historically retraced), somewhere around 42-44k around the end of Q3/start of Q4, before a likely crash to around 24-26k if the historical patterns are to maintain their trend into the future.
PREDICTIONS
1) BTC hits 44K around the end of September of 2023.
2) Pullback should reach 24-26K over the following quarter.
3) BTC will rally to our current ATH (at least) and possibly to 100K sometime between 2024-2025
This is the third time BTC has retraced to the 786 fib and reacted off it. Out of three instances, one test of the 0.5 and subsequent closure above led to a fake out and price retested the 786 before the bull market officially began.
This is why I see the 33k region as particularly significant for BTC. If BTC can close above there, it would be a closure above the 0.5 which would lead to a test of the 618 (where price has always historically retraced), somewhere around 42-44k around the end of Q3/start of Q4, before a likely crash to around 24-26k if the historical patterns are to maintain their trend into the future.
PREDICTIONS
1) BTC hits 44K around the end of September of 2023.
2) Pullback should reach 24-26K over the following quarter.
3) BTC will rally to our current ATH (at least) and possibly to 100K sometime between 2024-2025
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.