As we can see in the 4h timeframe an inverted head and shoulders pattern has been developed. the expected target is approximately 69880.
In the daily timeframe we can see the bullish moment from mid 2020 until today. By drawing the Fibonacci extension levels from the higher low at 28929 late January 2021 to the next high at 58550 the next Fibo extension target is 66600also phycological number.
In the weekly tf and by drawing the Fibonacci extension levels from the trough at march 2020 price at 3700 to the first peak coming after at 42130 January 2021 the extended target at -0.272 has already been reached so the next target and possibly resistance level is -0.618 at approx. 65876.
By analyzing the charts the next two targets for BTCUSD is assumed to be approx. 66000 and the next at 69800. Bitcoin might find some resistance at phycological levels from 66000 to 70000. My opinion is that it will correct its price by dropping at 50k from where the move might vary. it might hit the 100k target or have a massive drop.
In the daily timeframe we can see the bullish moment from mid 2020 until today. By drawing the Fibonacci extension levels from the higher low at 28929 late January 2021 to the next high at 58550 the next Fibo extension target is 66600also phycological number.
In the weekly tf and by drawing the Fibonacci extension levels from the trough at march 2020 price at 3700 to the first peak coming after at 42130 January 2021 the extended target at -0.272 has already been reached so the next target and possibly resistance level is -0.618 at approx. 65876.
By analyzing the charts the next two targets for BTCUSD is assumed to be approx. 66000 and the next at 69800. Bitcoin might find some resistance at phycological levels from 66000 to 70000. My opinion is that it will correct its price by dropping at 50k from where the move might vary. it might hit the 100k target or have a massive drop.