On the Chart I used 15 days range + Fib Extension to see where price can find next possible resistance / support levels they also can be possible take profits!
As you see on the Chart BTC has been on an Uptrend the last 15 days, I made an analysis based on continuation of this Trend.
Firstly I used the Fib retracement tool to see if some of the levels have already worked and that was 0.382 level which became a support level, we see the price turned direction after a failure to break through this level.
Next action (based on the logic) that I did was to apply Fib Extension to find the targets in case this trend will continue this targets you will find below.
And in conclusion – there are some factors which can interrupt this plan to be real (these factors you will find below too) but if not - We will see all the Beauty of the Fib levels!
MID-TERM PLAN
Possible targets according to Fib levels:
1 $10.557 (0.382)
2 $10.740 (0.5)
3 $10.934 (0.618)
4 $11.208 (0.786)
Remember: the growth is not going linearly and price might bounce between those levels and find temporary resistance / support levels.
Also the price can miss some of the Fib levels and go to others, you can’t say exactly where confrontation between bulls and bears will
occur. Also the price can miss some of the Fib levels and go to others, you can’t say exactly where confrontation between bulls and bears will
occur.
At last: We should be ready to any reverse, especially if we see some strong reversal patterns whether some candlestick patterns or any formations.
Please give your feedback and share your ideas! Also hit the like button, in case you like this idea and subscribe to the Channel in order not to miss new ideas and signals.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advise.
As you see on the Chart BTC has been on an Uptrend the last 15 days, I made an analysis based on continuation of this Trend.
Firstly I used the Fib retracement tool to see if some of the levels have already worked and that was 0.382 level which became a support level, we see the price turned direction after a failure to break through this level.
Next action (based on the logic) that I did was to apply Fib Extension to find the targets in case this trend will continue this targets you will find below.
And in conclusion – there are some factors which can interrupt this plan to be real (these factors you will find below too) but if not - We will see all the Beauty of the Fib levels!
MID-TERM PLAN
Possible targets according to Fib levels:
1 $10.557 (0.382)
2 $10.740 (0.5)
3 $10.934 (0.618)
4 $11.208 (0.786)
Remember: the growth is not going linearly and price might bounce between those levels and find temporary resistance / support levels.
Also the price can miss some of the Fib levels and go to others, you can’t say exactly where confrontation between bulls and bears will
occur. Also the price can miss some of the Fib levels and go to others, you can’t say exactly where confrontation between bulls and bears will
occur.
At last: We should be ready to any reverse, especially if we see some strong reversal patterns whether some candlestick patterns or any formations.
Please give your feedback and share your ideas! Also hit the like button, in case you like this idea and subscribe to the Channel in order not to miss new ideas and signals.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advise.