BYBIT:BTCUSD
4H chart
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We talked about the predicted end of correction on last post(as below)
-
Vegas tunnel/Chart pattern/Support judgement were used on last analysis.
In this post, I'm gonna propose another point that BTC might reach in near future.
-
From the right side right, you can notice a M pattern formed and price directly went down after breaking through neckline $62222.
We use Fib to presume the target of M pattern, and see 55261.5 is the best place to hit from the momentum of M pattern.
However, BTC is approaching to the Vegas tunnel 576/676 and Support zone we mentioned on Nov 17th.
So it might get effective support and not hit 55261.5, what we need to do is keep observing if a new pattern formed around here.
Obviously, we are still in a bull run.
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Trading Strategy
Profit targets:
a) 59393~61999----Fib(1.272~1.382)--->Already Hit!
b) 67590----Fib(1.618)--->Already Hit!
c) 76640----Fib(2)
Anyway, never forget to control your risk
-
Let's see where BTC can bring us to!
-
If you like this analysis, smash the "like button" and leave a comment below to share your thousghts
or let me know what crypto you want to see!
Trading is a reflection of yourself. Learn more daily and be ready for every opportunity.
Have a nice trading!
4H chart
-
We talked about the predicted end of correction on last post(as below)
Vegas tunnel/Chart pattern/Support judgement were used on last analysis.
In this post, I'm gonna propose another point that BTC might reach in near future.
-
From the right side right, you can notice a M pattern formed and price directly went down after breaking through neckline $62222.
We use Fib to presume the target of M pattern, and see 55261.5 is the best place to hit from the momentum of M pattern.
However, BTC is approaching to the Vegas tunnel 576/676 and Support zone we mentioned on Nov 17th.
So it might get effective support and not hit 55261.5, what we need to do is keep observing if a new pattern formed around here.
Obviously, we are still in a bull run.
-
Trading Strategy
Profit targets:
a) 59393~61999----Fib(1.272~1.382)--->Already Hit!
b) 67590----Fib(1.618)--->Already Hit!
c) 76640----Fib(2)
Anyway, never forget to control your risk
-
Let's see where BTC can bring us to!
-
If you like this analysis, smash the "like button" and leave a comment below to share your thousghts
or let me know what crypto you want to see!
Trading is a reflection of yourself. Learn more daily and be ready for every opportunity.
Have a nice trading!
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💡Sign up through link
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