BTC long for now!
Perfect!! The Wedge Pennant model was right, and as you may have seen, we have a new ATH.
For the next few days after the uptrend, I believe there may be a retracement on the trend line reaching 65k and staying on the 30 period MA as support, reaching exactly the 0.382 Fibonacci level. to then bounce and continue uphill towards the new ATH, always following Fibonacci (1.382) at 73.5k.
As for me I will open a conservative position based on the Fibonacci retracement at 65k with S.L below the psychological threshold of 60k and a T.P at 73k.
N.B: BTC has always followed the BBs on TF Daily very well!
What do you think about this?
For the next few days after the uptrend, I believe there may be a retracement on the trend line reaching 65k and staying on the 30 period MA as support, reaching exactly the 0.382 Fibonacci level. to then bounce and continue uphill towards the new ATH, always following Fibonacci (1.382) at 73.5k.
As for me I will open a conservative position based on the Fibonacci retracement at 65k with S.L below the psychological threshold of 60k and a T.P at 73k.
N.B: BTC has always followed the BBs on TF Daily very well!
What do you think about this?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.