Hello friends, today you can review the technical analysis on a 1D linear scale chart for Bitcoin (BTCUSD), a cryptocurrency.
1) The price recently dropped and has been consolidating since that point. 2) A prior BTC fractal (circled in the chart) could be potentially in early stages of the current price action. The price in that fractal took 63 days to consolidated before price started moving up. 3) If the fractal plays out with current price, that would bring the BTC price down to about 42K-43K before moving higher. 4) Keep an eye on RSI (relative strength index) and Volume. 5) This is a fractal idea so don't assume it will definitely happen.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
As the year is coming to an end and holidays are almost here. I want to wish my friends Happy Holidays and ready for an exciting 2022! What are your thoughts for the coming year?
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
@reees, thanks for showing your chart. I have a few other ideas on BTC which can potentially go higher than 100K for next year. Let' see how this plays out. Good luck!
reees
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@CRYPTOPICKK, same to you. yeah i'm thinking this bull run extends longer than a lot of people are expecting:
MillionaireEconomics
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@reees, thanks buddy. My hopium bull run dream chart:
reees
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@CRYPTOPICKK, i like it. i'm not betting on prices making it quite that high next year though, trying to account for diminishing returns:
MillionaireEconomics
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@reees, that's why I said hopium. lol. 154K would be nice to see as well from you chart!