Bitcoin is currently experiencing a W-shaped recovery that is unfolding rapidly.
Yesterday, Bitcoin decisively broke above the 1D EMA200 (blue trend line) and closed above it, nearly erasing the 25% losses from August. This swift and strong reversal is due to the classic 'W-shaped recovery' pattern, which is now fully developing.
The price has reached the 0.618 Fibonacci retracement level. If it manages to break through this level, we could see a complete price recovery by the first week of September, potentially reaching between $73,000 and $80,000.
Do you believe the pattern will complete?
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Yesterday, Bitcoin decisively broke above the 1D EMA200 (blue trend line) and closed above it, nearly erasing the 25% losses from August. This swift and strong reversal is due to the classic 'W-shaped recovery' pattern, which is now fully developing.
The price has reached the 0.618 Fibonacci retracement level. If it manages to break through this level, we could see a complete price recovery by the first week of September, potentially reaching between $73,000 and $80,000.
Do you believe the pattern will complete?
If you found this analysis helpful, please SUBSCRIBE ✍️ and SHARE 🙌!"
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.