Hello traders , this is quick update for BTC , as you now BTC followed my price targets exactly as i predicted 2 weeks ago , so congratulation to everyone who was followed me ; but let's dive into the chart :
this is daily chart :
as you know in my BTC prediction , about two weeks ago i talked about current situation ; but as i said before this dump could be over around 0.618 fib level or in the worst case could touch 0.786 , but what is my price target for the BTC now ? is BTC will touch 0.786 or just comes down to the 0.618 fib level and then finally BTC will break out from this rising wedge ? stick with me until the end of this idea guys :
as you now golden ratio (0.618) is around 38.2k , but there is more confluence in this price area :
as i mentioned in my BTC prediction , i said if you draw fib projection you can see 1.0 ratio is exactly alignment with 0.618 fib retracement , but
in the worst case scenario we can see 1.27 fib projection level , but i don't think BTC price goes to 1.618 .
let's look at the lower time frame :
in the 4H time frame BTC price formed a descending triangle ; and if you measures the technical target of this triangle you can see this is exactly point toward the 1.27 fib projection level , but as i said this is my worst case scenario so this possible to see wick below the 0.618fib retracement .
I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for watching my ideas
this is daily chart :
as you know in my BTC prediction , about two weeks ago i talked about current situation ; but as i said before this dump could be over around 0.618 fib level or in the worst case could touch 0.786 , but what is my price target for the BTC now ? is BTC will touch 0.786 or just comes down to the 0.618 fib level and then finally BTC will break out from this rising wedge ? stick with me until the end of this idea guys :
as you now golden ratio (0.618) is around 38.2k , but there is more confluence in this price area :
as i mentioned in my BTC prediction , i said if you draw fib projection you can see 1.0 ratio is exactly alignment with 0.618 fib retracement , but
in the worst case scenario we can see 1.27 fib projection level , but i don't think BTC price goes to 1.618 .
let's look at the lower time frame :
in the 4H time frame BTC price formed a descending triangle ; and if you measures the technical target of this triangle you can see this is exactly point toward the 1.27 fib projection level , but as i said this is my worst case scenario so this possible to see wick below the 0.618fib retracement .
I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for watching my ideas
