BTC Forecast with Fib Retracement Levels Analysis
After checking my previous post and cross-referencing with Fib Analysis and historical data, I can safely say 2 paths BTCUSD will take from now:
1) REBOUND FROM BOTTOM OF ASCENDING CHANNEL and 0.236 Fibonacci Line --> Taking us to resistances @ 9200, 9500 and finally 10000
However, this requires massive buy volumes to overcome 3 major resistances levels close together.
2) BREAKDOWN OUT OF CHANNEL BOTTOM --> Retouch 0.382 Fib Line @ strong support level 7700 or even 0.5 Fib Line @ 7000
This will definitely bring in major BULL POWER with the massive buys upon seeing this BTC price, giving us more gas to start the next major BULL RUN for post halving
Option 2 seems more likely, given the exhausted weeks of bull pressure, and also, having BTC retest the lower levels would garner stronger supports for the next run up.
At the moment, BTC seems undecided about where to go, ranging about forming a PENNANT STRUCTURE.
Watch for:
- Breakdown below 8500 --> DOWN WE DROP
- A close above 8900 --> UP WE GO
For now, hold your horses boys, we charge when the signal flare is lit.
Regards,
GOL D ROGER
1) REBOUND FROM BOTTOM OF ASCENDING CHANNEL and 0.236 Fibonacci Line --> Taking us to resistances @ 9200, 9500 and finally 10000
However, this requires massive buy volumes to overcome 3 major resistances levels close together.
2) BREAKDOWN OUT OF CHANNEL BOTTOM --> Retouch 0.382 Fib Line @ strong support level 7700 or even 0.5 Fib Line @ 7000
This will definitely bring in major BULL POWER with the massive buys upon seeing this BTC price, giving us more gas to start the next major BULL RUN for post halving
Option 2 seems more likely, given the exhausted weeks of bull pressure, and also, having BTC retest the lower levels would garner stronger supports for the next run up.
At the moment, BTC seems undecided about where to go, ranging about forming a PENNANT STRUCTURE.
Watch for:
- Breakdown below 8500 --> DOWN WE DROP
- A close above 8900 --> UP WE GO
For now, hold your horses boys, we charge when the signal flare is lit.
Regards,
GOL D ROGER
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