BTC appears to be forming the beginning of a small bullish pennant on both the 1 Hour chart and the 4 Hour chart, a key indicator that if this breaks above the top of this pennant, a bullish continuation will most likely occur. We still have a lot of potential for growth, however, a major retracement is still possible, so trade carefully and keep capital preservation in mind. We are in some very crucial times for BTC I believe, where it is definitely possible to still retrace back down to $30,000 (very abruptly) before rallying up to $50,000+
My first target still remains at around $66,000 based on the fib extension marked in the chart.
Best of luck to you all!
My first target still remains at around $66,000 based on the fib extension marked in the chart.
Best of luck to you all!