Mboersma0324

BTC Potential Path to 50K

Long
Mboersma0324 Updated   
COINBASE:BTCUSD   Bitcoin
Bitcoin looks like it has strength for one more leg up to I'd say the 42-43k area. Assuming it does that, this is a potential path to 50k if BTC can stay above the .618 fib level somewhere around 38K.
Comment:
Only thing left now is to see how much juice BTC has! Im not sure it has the juice for 50K but anywhere from 45k to 50K i woiuld expect a rejection followed by quite a bit of Dumpiness UNLESS some NEWS negates that.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.