BTC LONG we are playing the exact same as 2017
The past does not predict the future. However, it typically does rhyme! Taking a look at the chart to the right, we see in 2017 after the move from the 1.618 Fibonacci around $1,800 extension to the local high of close to $5,000, we saw a pullback to the .618 Fibonacci at around $3,000. After the market resolved itself around this area we then saw the massive ramp up into the last leg of the bull cycle that lasted roughly 90 days and extended to the 5.618 level just below $20,000.
Now, if this does hold true in this bull cycle, the current level of $42,000 is acting as the .618 extension and you can look to long here for the move into the next 90 days. If the past does repeat and we can extend to the 5.618 level from here... We will see a price of around $225,000 / $230,000 in the next 90 days.
Crazy? Yes, it seems illogical... however, this market does not follow logic, it follows human emotion. It is our opinion that we will be seeing a very large move from here for the next 90 days.
Buckle up, we are about to take off!
Entering between $42,000 & $45,000
Trade invalidated with a daily open and close below $37,500
Targets:
1. $75,000
2. $86,500
3.$100,000
4. $123,000
5. $200,000
6. $230,000
Take profit at each level, Good luck all!
Now, if this does hold true in this bull cycle, the current level of $42,000 is acting as the .618 extension and you can look to long here for the move into the next 90 days. If the past does repeat and we can extend to the 5.618 level from here... We will see a price of around $225,000 / $230,000 in the next 90 days.
Crazy? Yes, it seems illogical... however, this market does not follow logic, it follows human emotion. It is our opinion that we will be seeing a very large move from here for the next 90 days.
Buckle up, we are about to take off!
Entering between $42,000 & $45,000
Trade invalidated with a daily open and close below $37,500
Targets:
1. $75,000
2. $86,500
3.$100,000
4. $123,000
5. $200,000
6. $230,000
Take profit at each level, Good luck all!
Comment:
Playing around with false narrative and news designed to manipulate prices lower. We still haven't closed any 4Hr candles below the .786 retracement, the trade remains valid, and we have even added to the position.
Comment:
Stops held perfectly, Looking for the next leg, added more at $37,000
Comment:
Added more at $32,000 analysis is still intact and valid