Despite today's drop, Bitcoin (BTCUSD) is still on its path of completing an Adam and Eve (A&E) pattern since the June crash, which is a formation consistent with market bottoms. In fact as we see on this analysis, which is made on the 1D time-frame, every market Bottom on BTC's previous Cycles was formed on a A&E pattern. Despite the different eras, even the RSI and MACD indicators seem quite consistent across those patterns.
Technically, the short-term target is the 1D MA200 (orange trend-line). The next is the 0.382 Fibonacci retracement level, which was the previous Support Zone during this Bear Cycle and is around $29700. But based on the A&E characteristics, the price can skyrocket by Q1 2023 as high as Eve's 2.0 Fib, which is around $34400.
Is this a realistic Target Zone for Bitcoin for the next 4 months? Feel free to let me know in the comments section below!
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Technically, the short-term target is the 1D MA200 (orange trend-line). The next is the 0.382 Fibonacci retracement level, which was the previous Support Zone during this Bear Cycle and is around $29700. But based on the A&E characteristics, the price can skyrocket by Q1 2023 as high as Eve's 2.0 Fib, which is around $34400.
Is this a realistic Target Zone for Bitcoin for the next 4 months? Feel free to let me know in the comments section below!
-------------------------------------------------------------------------------
** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
You may also TELL ME 🙋♀️🙋♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁
-------------------------------------------------------------------------------
👇 👇 👇 👇 👇 👇
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.