BINANCE:BTCUSDT Hello everyone 😃 Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !
#BTC is now moving at $60782.19 as we talking, It just broke below the rising wedge. The target of the formed rising wedge is $49160; But firstly it needs to break below the 60K level ! Now as we are standing in a good spot to take LONG, I just managed to take a low risk LONG on $60500 - 61500 as entry and set SL on $59950 as a daily candle close below it. If we lose this level then mostly we'll lose the bull-run till early February; So it's our bullish invalidation for now, And I won't change the bias till 47K's retest level !
📌 Similar structure with Local High on April 2021, Possibility to experience another huge market crash ? As you can see there's a similar pattern formation with April's High, - Both have similar rising wedge pattern. - Both have the developed PO3 - On April, We lost the wedge and 60K as a drop confirmation !
📚 Also there are two other fractal based similarities on lower timeframes 👇🏼
- Similar PO3 development with April's 2021 : As you can see the structure of the PO3s are the same but in different time-frames which is not important for us in big picture of fractal ! Based on the higher chart, We may face the drop after losing the 60K level and experience the repetition of April's high. 📍 But on other hand we have a positive fractal too 😉
- Similar Range development with September's 2021 : On other hand, We have a bullish similar structure with our last beginning range, Which has lead #BTC to 74% surge to $69000.00 level. According to the data, If #BTC holds 60K; Then we'll experience the same surge rate on the new cycle !
📑Conclusion : BTC's structure is still remain bullish, So we'll act bullish as long as #BTC remains above 60K level. Once we lose the 60K level, Then we'll might retest 47K or lower !
Hope you enjoyed the content I created, You can support us with your likes and comments ! Attention: this isn't financial advice we are just trying to help people on their own vision.
Some correction is needed for long term bull but 47K is not realistic. 57K is the number.
svj194
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@ongviet, yes nailed it. if it goes 47k then 35-30 is also possible as on 47 the support is weak. If that happens we are not in bull market anymore. As per rainbow chart the bull cycle is far from over. so 57-58 is a good level.
x333-
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@ongviet, 30K is the best number just wait and see and most importantly remember
realmadrid2015b15
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@x333-, You need to wait a veryyyyyyyy LONG TIME bro. Goodluck
Blackjackdz
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@FOMO_Sapiens, 58k is the number for sure until now :D
DavSab
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Now a rising channel and/or its gonna retest = further down
Helical_Trades
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@DavSab, Agreed with the channel actually ! Thanks or reminding me ;D
realmadrid2015b15
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extremly UNREALISTIC price target bro. BTC wil NOT GO TO 47k in this cycle. Maybe it will fall down to 57k or max 55k. i believe BTC will recover this week and go up the next week.
nguyenle23
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i deleted the Binance app, i will reinstall it in february 2022 lol :))
Mohkh
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@nguyenle23, But maybe u will lost some opportunities :)