With the Top for 2023 confirmed we can begin to dump.
$44.7k is TOP for
BTC
2023.
We opened 2023 at 16K levels so we are bound for a retrace in Q1 2024.
(34K is 61.8 level on fib retracement for 2023)
BlackRocks Bitcoin ETF will seek approval by January 10, 2024.
With BR injecting their footprint into bitcoin i anticipate a drop to retest sub 40k region to 38.6k being TOP of box and 37.5k being BOTTOM of box.
It could continue down to 35.8k as alot of supply lies at this area.
Today provided the first drop in the sequence.
Once we break 40K it should nose dive.
Entry at 41.8K
SL: 43K flat
1:3 Risk:Reward ratio
**The large move is to 29k levels but it will not be fluid**
This is my personal thesis and not financial advice.
$44.7k is TOP for
BTC
2023. We opened 2023 at 16K levels so we are bound for a retrace in Q1 2024.
(34K is 61.8 level on fib retracement for 2023)
BlackRocks Bitcoin ETF will seek approval by January 10, 2024.
With BR injecting their footprint into bitcoin i anticipate a drop to retest sub 40k region to 38.6k being TOP of box and 37.5k being BOTTOM of box.
It could continue down to 35.8k as alot of supply lies at this area.
Today provided the first drop in the sequence.
Once we break 40K it should nose dive.
Entry at 41.8K
SL: 43K flat
1:3 Risk:Reward ratio
**The large move is to 29k levels but it will not be fluid**
This is my personal thesis and not financial advice.