About meThe material I post is not finance advice. I'm not influenced by anyone's bias or social commentary. I simply express my thoughts and opinions on the markets based on what I'm able to see. 20,000+ hours spent charting and watching BTC since 2017.
Previous forecast on BTC was obviously invalidated once it broke out of the wedge pattern which was being respected from January 2022 until early April.
Whilst I am not a FA trader, the state of the global economy can simply not be ignored. Thus my guess is that we'll see a long bleed and eventual capitulation down to the 80-88% retracement level to safely say...
TL:DR - explained by lines and numbers
Support and Resistance, 0.5 important Fibonacci level for BTC. Prior to this the golden pocket zone was more prevalent however things have changed since the March 20 crash it seems. Happy to provide a chart analysis if requested.
Otherwise this is how I see BTC playing out, it's only what I see so wouldn't dare to call...
BTC has liked the 0.5 fibonacci retracement level on both big and small time frames and there's a high probably that's where it's headed towards the mid 50k mark, expecting it to shoot straight through.
