Bull view on bitcoin using 60 minutes time frame
Bitcoin following the Blue trend line with HLs.
Fib extension from wave C, D to E indicated the next bull target at fib extension - 100% as our "Target 1" which has successfully met now.
The "Target 2" will be at 161.8% of Fib Ext CDE. This can be further tested with another fib Ext starting from Wave E which gives the same level of "Target 2" at 100% Fib Ext.
Any pull back would suggest to buy at the levels on the blue trend line which shall be also be consistent with the 50%-61.8% Fib ext levels. If in case Bitcoin starts to break the trend line, the bear phase of BTC will start.
To summarise:
Target 1: 9,400 (nailed)
Target 2:9700
BuY ZoNE: 9100
Bitcoin following the Blue trend line with HLs.
Fib extension from wave C, D to E indicated the next bull target at fib extension - 100% as our "Target 1" which has successfully met now.
The "Target 2" will be at 161.8% of Fib Ext CDE. This can be further tested with another fib Ext starting from Wave E which gives the same level of "Target 2" at 100% Fib Ext.
Any pull back would suggest to buy at the levels on the blue trend line which shall be also be consistent with the 50%-61.8% Fib ext levels. If in case Bitcoin starts to break the trend line, the bear phase of BTC will start.
To summarise:
Target 1: 9,400 (nailed)
Target 2:9700
BuY ZoNE: 9100
Comment:
By the time I finished my analysis, the Target 2 was nailed. Fire in the house! Stay careful from the pull backs