Nice weekend to everyone.
This time, I will post major channels with Fib Circles on price line chart.
It is simple so you can easily read and monitor.
It is based on my previous chart.
Bitcoins are in downtrend until breaks and hold above red circle ( about 20500 usd ).
Green circle is support dragged until Spring. Lows was made on it in November 2022.
Another touch would lead to my buy zone.
Everything depends on how long it takes to get above or below, and nobody knows.
To me it's more likely to the downside.
New lows are only 9% below, so I will sit ready on my alert ( 11-14k ).
That's, were DCA just starting.
Yours Emvo.
*This is not any financial advice.
This time, I will post major channels with Fib Circles on price line chart.
It is simple so you can easily read and monitor.
It is based on my previous chart.
Bitcoins are in downtrend until breaks and hold above red circle ( about 20500 usd ).
Green circle is support dragged until Spring. Lows was made on it in November 2022.
Another touch would lead to my buy zone.
Everything depends on how long it takes to get above or below, and nobody knows.
To me it's more likely to the downside.
New lows are only 9% below, so I will sit ready on my alert ( 11-14k ).
That's, were DCA just starting.
Yours Emvo.
*This is not any financial advice.
Comment:
Weekly potential Bear Flag:
Comment:
Actually at lower time frame, BTC is trying hold on top of that Bear flag. Upside target would be top of channel or about 30 week average. It is around 12-15% :
Comment:
It can be interpreted also as Ascending triangle. Because on lower time frames flag is too long against the Bear Flag pole... However, I personally do not think, it should last long. I expected some upside first. On 1 hour TF is pivot.
Comment:
I posted about green box target from July 2021. It will takes time, but I think target will be hit sooner or later. . It is probable, it would be much lower than this. This is my buy zone and if goes lower, I will start buy altcoins. Bitcoin first.