BTC followed our last update and held the 28.5k level which also happens to be the .618 fib extension considering the covid low and recent ATH. Broke above the 30.8k level too! Volume profile matches with all those pumps that happened in early 2021 and July 2021. However, there are a few points BTC needs to fulfill like BTC needs to break above the 32k level. Here's what I expect:-
With several choppy ups and downs in BTC, it's highly likely that it will hit the 41K level. Breaking above the Blue channel with lower low and lower highs. We need a new higher low that could happen If BTC breaks above the blue channel. Secondly, BTC needs to hold the golden ratio level which is 38.5k
The chart is quite clear here, there's a high probability of this scenario playing out in the next couple of weeks. What's important is HOW BTC reacts to the 38k to 42K level I am quite confident BTC will hit that level.
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