BTC Fib Channel: Parallel Trend Line Resistance Touch

Updated

Projecting a line parallel to the fib channel from a previous resistance. Seems to have reacted to the trend line projection. Could be temporary. Could retest the bull trend line ~40k.

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42-43k more likely imo

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TradingView messes with my trendlines all the time, that's why some of them aren't exactly parallel. Always having to reset them.

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Cleaned up the trend lines. That 1.618 extension is in line with this 4 hour candle.

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Rather, it crossed the 1.618 this 4 hour candle

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If we mega bull this is a target

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Back at the trend line

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Breached

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see how it looks at candle close

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A more reasonable target:

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