So our intraday 3-Drive has reached only minimum 46K target - the low between 2nd and 3rd drive, while butterfly has failed. It means that BTC should go upward further. We do not have any reasons to go short by far. Speaking about long entry - currently we also do not have any setups, but any pullback on daily chart, at least to 3/8 Fib support might be a good level to consider.
Now to major thing... BTC recently shows strong correlation with interest rates. Next strong resistance on interest rates stands around 1.4-1.45% level, while it might agree with next BTC target on monthly chart around 60-63K area. When interest rates hit the resistance - we have to be careful and keep an eye on possible bearish patterns on BTC as well. But right now we do not see something really interesting.
Hello Sive!
I can not get extension on chart so use the calculator
investing.com/tools/fibonacci-calculator and if we start from 0 High at 19777 and low 3079 we get 261.8% 54,855.186 so that can be the next station first.
What you think?