BTC has made its way to $28800, The target I mentioned weeks ago where BTC was traded above $42000. Now, There're two options to work with : -Looking for technical factors and on-chain data which are calling the dip nearly at 28K - 23K. -Looking for classical options with fractal, Which are giving us a better look compared to technical factors.
Currently, Price Action doesn't have enough data to offer except the thing that if we get any weekly close below $28800, Then it's more likely to have our lows at 20K. But when we use to trade the bigger picture with fractals, Then we can see the similarities between 2013's movement and the current movement after their peaked highs!
Now based on fractals, If we get the weekly closing below $28800, Then it could confirm the scenario of retesting the last local high which is located at $19666. So, Our first buy level after giving the confirmation on $28800's weekly rejection should be around our last local high from 2017 at $19666.
When we look deeper into the fractal, We can see that there's also a possible stop-hunt to lower logical levels called Support/Resistance levels below local highs! So, Our second buy level for any possible stop-hunt should be located on $12000 where we have our S/R line above the weekly closes and below the local high.
📚 These are my main levels to enter into positional BTC's trade with a targets at $69000 - $85000 - $113000.
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