We are using long-term numbers. The number that produced the double-top bearish signal is $122,524. Bitcoin couldn't pass beyond this level. The weekly rejection reveals that a test of support will follow next.
Before $122,524 the next major Fib. level sits at $102,077, the 1.618 extension. This is where Bitcoin is headed next.
We have $112,000 as support but this a short-term support. Notice this weekly chart more focused on the long-term. Here it is easier to see, easier to appreciate that Bitcoin is not likely to hold $112K. Nothing to worry about though.
A drop toward $100,000 (above) would mean a full flush for Bitcoin and the doors opening for a new major wave of growth. Make no mistake, the current move is running its course.
Bitcoin is likely to drop only for a few more days. Settle the low, recover long-term. The altcoins will shake but will also recover in a matter of days. This is a momentary event, Crypto will continue to grow. The bull market is not over. The best is yet to come.
Namaste.
Before $122,524 the next major Fib. level sits at $102,077, the 1.618 extension. This is where Bitcoin is headed next.
We have $112,000 as support but this a short-term support. Notice this weekly chart more focused on the long-term. Here it is easier to see, easier to appreciate that Bitcoin is not likely to hold $112K. Nothing to worry about though.
A drop toward $100,000 (above) would mean a full flush for Bitcoin and the doors opening for a new major wave of growth. Make no mistake, the current move is running its course.
Bitcoin is likely to drop only for a few more days. Settle the low, recover long-term. The altcoins will shake but will also recover in a matter of days. This is a momentary event, Crypto will continue to grow. The bull market is not over. The best is yet to come.
Namaste.
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🚨 TOP FREE Trades
ETH +2050% · AAVE +1134%
XRP +749% · DOGS +868%
BTC +580% · SOL +687%
t.me/anandatrades/1350
🚨 FREE Analyses & New Results
t.me/masteranandatrades/6681
🚨 PREMIUM LIFETIME (Since 2017)
lamatrades.com
ETH +2050% · AAVE +1134%
XRP +749% · DOGS +868%
BTC +580% · SOL +687%
t.me/anandatrades/1350
🚨 FREE Analyses & New Results
t.me/masteranandatrades/6681
🚨 PREMIUM LIFETIME (Since 2017)
lamatrades.com
Related publications
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.