BTC Extensions and Expansions
BTC, in its recent pullback retraced to its 50% level which appears at the moment to have held without much hesitation.
Based on these levels, I'm comfortable targeting a conservative level around $25,000, a resistance level set by the lower bound (127%) fibonacci extension.
A more aggressive fibonacci expansion target can bring BTC to levels between $34,000 and $41,000.
This recent pull back, still within the bullish trend is healthy. No pull back would be cause for concern in my opinion.
Based on these levels, I'm comfortable targeting a conservative level around $25,000, a resistance level set by the lower bound (127%) fibonacci extension.
A more aggressive fibonacci expansion target can bring BTC to levels between $34,000 and $41,000.
This recent pull back, still within the bullish trend is healthy. No pull back would be cause for concern in my opinion.
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