During this accumulation period, i've been studying wyckoff accumulation pattern. By now i personally think that i have enough data on the chart to confirm this pattern, though i could be wrong. If this theory is correct we should be heading towards the SOS (Signs Of Strength) area and likely heading upwards to the 0.702 fib level.
Between the 0.618 and 0.702 fib. level is a decision time area for btc imo. It is where price will decide if we gonna go set a new ATH or are we just doing a retracement rally before heading back down. In my opinion bulls will win and btc will hit that 75-90k target area this bull run.
Right now we seem to be having a short sqeeze.
I am not a financial advisor and non of this should be taken as a financial advise.
BTCUSD
Between the 0.618 and 0.702 fib. level is a decision time area for btc imo. It is where price will decide if we gonna go set a new ATH or are we just doing a retracement rally before heading back down. In my opinion bulls will win and btc will hit that 75-90k target area this bull run.
Right now we seem to be having a short sqeeze.
I am not a financial advisor and non of this should be taken as a financial advise.
BTCUSD