Cryptocurrency companies are preparing for a massive advertising campaign during the Super Bowl this weekend, with some analysts predicting it could boost the price of bitcoin in the build up to the event. -Yahoo! Finance
It is likely we are in a big ole' bull flag right now.
First, we are going to drop and re-test the 40.5k level. Incidentally there is a CME gap there. Second, we are going to have another massive impulse to the upside, with a target of 53k. Third, we are then going to retrace. By a lot.
Stay tuned for the updates on that retrace, once the next high target is hit.
How much do you think it will retrace? Time-frame?
ClearOpenDoor
⋅
@AnalystsTrader45, We can analyze that once we get the next turning point. Let us estimate a 55% retracement. This would imply bullish continuation to the upside, afterward.
AnalystsTrader45
⋅
@ClearOpenDoor, So a retrace to about 25K-30K, then continuation of bullish action from there?
It's unlikely we are to get back down to 30k soon, we are already making our ascent with increasing strength. This move feels more impulsive than corrective
UnknownUnicorn10828932
⋅
can you please check your mailbox
UnknownUnicorn10828932
⋅
are you there???
UnknownUnicorn10828932
⋅
@reza_1515 hello my friend i can't reply secret messages what are your tp for nkn dent theta in case they will have a new ath while btc is on B and what is your own scenario for them thanks in advance
AhmadAnil
⋅
we have the same opinion.
lskdxz
⋅
Although I also think it is currently in a pullback. However, the trend of BTC still has the possibility of suddenly breaking through the upper resistance and forming a new upward channel.