For Bitcoin, a similar correction formation could result in a ±10% move to the $60,000 range, targeting the 50% Fibonacci level.
In the general group, I mentioned a possible correction for Bitcoin to around $60,000 and Ethereum to $2,800-$3,000. I have decided to temporarily exit my positions. If the correction occurs, we will look for entry points at lower levels.
#btc #bitcoin
In the general group, I mentioned a possible correction for Bitcoin to around $60,000 and Ethereum to $2,800-$3,000. I have decided to temporarily exit my positions. If the correction occurs, we will look for entry points at lower levels.
#btc #bitcoin
Nota
Looking at the liquidation levels for Bitcoin over the past three months, it appears that the market maker has cleared out the first batch of short traders. A 50% Fibonacci correction is needed to accumulate more short positions, making it easier for Bitcoin to rise above $70,000. Currently, I'm considering this scenario: from the current prices, I anticipate a Bitcoin correction to around $60,000 and Ethereum to $2,800-$3,000, followed by a rise above $70,000.
How much higher?
If we compare the Fibonacci zones of 161.8%-227.20%, the target range is $89,000-$100,000. Limit orders are present in that area on the order maps from Binance and Coinbase.
If this scenario unfolds, we can conclude that this will mark the alt season and a significant rise in altcoins, along with the approval of the Ethereum ETF and an influx of 100-200 million traders from Hamster Kombat.
These are my current thoughts on the crypto market situation. 🤔🤔🤔
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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.