If you appreciate the chart please hit the like buttom and if you want more ideas hit also follow.. Thanks!
- What you see is two bullruns in the past years, both with Fib channels in it. - Buttoms are highlighted white - Also volume has been highlighted white - There is a black line to compare volume (green candles) - Green lines are support levels
Based on it's bullruns you clearly see the bottom of the previous bullrun. I've highlighted in white. According Fibonacci channels the bottom target must be much higher. But fallen much lower.. There was reversal thanks to relative high volume for that period.
If we can trust on historical patterns for the future our next buttom will be also lower than Fib channels will target. I think we will go lower indeed, check volume. The next bottom will also be in the grey zone of Fib the channel. The target I've highlighted white, with red line in it.
Unfortunately the volume is in the current period much lower than feb 2015, see the black line.. That will bring price deeper low.
Thanks for reading!
If you appreciate the chart please hit the like buttom and if you want more ideas hit also follow.. Thanks!
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This is my very long term TA of BTC
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Critical note: BAKKT, Bitcoin EFT or FIAT crisis can speed up some things....