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Sep 4, 2022 12:16 AM

BTC 80% Retracement - High Probability 

BITSTAMP:BTCUSD4M
Bitcoin / U.S. dollarBitstamp

Description

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From the 4 month candle view BTC is still in an uptrend but it looks like it really wants to test between 10k- 14k.

That would make the 80% cycle retracement. If that's not support, then we could see a 90% retracement.

Comment

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We are testing the top of bull flag 2 which is also the last major breakout area. The market seems to think this area is important.

I suspect we will be testing 12-10k and 8.5k if things really get bad. $8,500 would probably send the market up.
Trend AnalysisChart PatternsBeyond Technical AnalysisBTCUSDBullish PatternsBearish PatternscrashingmarketETHUSDbitcoinpriceprediction
Comments
arvine11
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6-8K possible
arvine11
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great insight!
arthurgcar
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Not looking good for BTC. If you notice this same 4M chart it looks like BTC broke down from a rising wedge….
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