Here is an update to our LTF Retracement Targets:
We made this post almost 3 months ago and were predicting that BTC would drop from the 1.618 ($120.4k) to either our support level #2 or our final support level for the bull trend to remain intact.
What's interesting is our "Teal trendline" that we mention as support #2 lead to the price we were predicting as our "final support level".
Since both of those support levels aligned, our recent low was established at our teal trendline and created a low at $108.6k which was right in line with that being the range for a higher low to be created before a continuation rally.
In this post, I have extended the trendline and extension levels so we can see how future price action develops with these levels.
We made this post almost 3 months ago and were predicting that BTC would drop from the 1.618 ($120.4k) to either our support level #2 or our final support level for the bull trend to remain intact.
What's interesting is our "Teal trendline" that we mention as support #2 lead to the price we were predicting as our "final support level".
Since both of those support levels aligned, our recent low was established at our teal trendline and created a low at $108.6k which was right in line with that being the range for a higher low to be created before a continuation rally.
In this post, I have extended the trendline and extension levels so we can see how future price action develops with these levels.
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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.
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.