BTCUSDT TO 43K!?!
DISCLAIMER: I am not an experienced trader and solely publishing for feedback and to review my trade ideas once they have plaid out. Please feel free to offer your perspective and other scenarios!
Recent April 21' - Jul 21' correction. -38.58%, 91d. 81.41% gain followed.
Current correction: Started around November 9th and we are at approx. 28% below previous swing high close. We have since passed through 50, 128, and 200 EMA levels, as well as $49,075.88 support level. If we breakthrough $48,240.98 support, probability we see more downside is high. In that case, I have set my buy zone to $43-44.5K. 1D Candle stick pattern in April 21' - Jul 21' correction overlaid onto chart and adjusted as this sell-off is not as aggressive.
As you can see, there are a few swing trade opportunities before we strap in to test the last run.
1. Target date for entry: End Jan/early Feb 22’ (90d)
2. Target date pattern play out: Spring 22’
3. Price Target (Bollinger 1D; conservative) $62,681
4. Price Target (pendant; aggressive, new ATH): $71,189.05
In the Jan 18’, July 19’, and April 21’ corrections, the recovery decreased significantly in the latter. That said, even if a replica, we will not see the price go to 100K but rather just shy of 80K.
Recent April 21' - Jul 21' correction. -38.58%, 91d. 81.41% gain followed.
Current correction: Started around November 9th and we are at approx. 28% below previous swing high close. We have since passed through 50, 128, and 200 EMA levels, as well as $49,075.88 support level. If we breakthrough $48,240.98 support, probability we see more downside is high. In that case, I have set my buy zone to $43-44.5K. 1D Candle stick pattern in April 21' - Jul 21' correction overlaid onto chart and adjusted as this sell-off is not as aggressive.
As you can see, there are a few swing trade opportunities before we strap in to test the last run.
1. Target date for entry: End Jan/early Feb 22’ (90d)
2. Target date pattern play out: Spring 22’
3. Price Target (Bollinger 1D; conservative) $62,681
4. Price Target (pendant; aggressive, new ATH): $71,189.05
In the Jan 18’, July 19’, and April 21’ corrections, the recovery decreased significantly in the latter. That said, even if a replica, we will not see the price go to 100K but rather just shy of 80K.
Penafian
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