Bitcoin requires retracement before the journey to 44k
No body can deny that 2021 is the year of crypto and BTC's exponential target is about 44k. But be careful with your longs NOW as BTC requires retracement.
1. Fear and Greed index shows numbers higher than 92! and remember the quote of great Warren Buffett: ''We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful. ''
2. take a look at Weekly RSI. Freaking, isn't it?
3. Market makers would like to accumulate more BTC
So I would like to say 22.5k- 23.5k is the last point for this bullish movement. How much is the retracement?
for me it's not yet clear but middle of the parallel channel (around 15k) would be the reasonable scenario. How amazing sound this when 50% Fib retracement of the bullish move is located there as well.
Therefore, an Elliot ABC retracement is coming up.!
1. Fear and Greed index shows numbers higher than 92! and remember the quote of great Warren Buffett: ''We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful. ''
2. take a look at Weekly RSI. Freaking, isn't it?
3. Market makers would like to accumulate more BTC
So I would like to say 22.5k- 23.5k is the last point for this bullish movement. How much is the retracement?
for me it's not yet clear but middle of the parallel channel (around 15k) would be the reasonable scenario. How amazing sound this when 50% Fib retracement of the bullish move is located there as well.
Therefore, an Elliot ABC retracement is coming up.!