Retest 0.5 Fib then pump to 1.618 Fib? (BTC) bullish retest
Good morning traders,
First of all, please do me a favour and smash the like button or leave a comment 👍
Second of all, bitcoin had printed a falling wedge pattern over the last 24 hours and confirmed a breakout to the upside (which has around an 88% chance of doing so) which is a very high probability. We rejected the previous high of $48,150 and I'm looking for a retest of the falling wedge before continuation which would be around $45,999 since the retest took longer than expected. 25x leveraged longs get liquidated around the same area so there's multiple factors of confluence here.
If buyers are strong at the retest I'm expecting a bullish Monday with a target of anywhere from $49,000 - $52,000.
Fibonacci level 1.618 is at $50,896 which could be a great sell opportunity, but if you've seen my previous posts of the rising wedge it may be sooner. I'll post an updated chart of the rising wedge tomorrow at some point if this TA here checks out within the next 24 hours.
Stay safe, cheers.
-Yurlo
👍
First of all, please do me a favour and smash the like button or leave a comment 👍
Second of all, bitcoin had printed a falling wedge pattern over the last 24 hours and confirmed a breakout to the upside (which has around an 88% chance of doing so) which is a very high probability. We rejected the previous high of $48,150 and I'm looking for a retest of the falling wedge before continuation which would be around $45,999 since the retest took longer than expected. 25x leveraged longs get liquidated around the same area so there's multiple factors of confluence here.
If buyers are strong at the retest I'm expecting a bullish Monday with a target of anywhere from $49,000 - $52,000.
Fibonacci level 1.618 is at $50,896 which could be a great sell opportunity, but if you've seen my previous posts of the rising wedge it may be sooner. I'll post an updated chart of the rising wedge tomorrow at some point if this TA here checks out within the next 24 hours.
Stay safe, cheers.
-Yurlo
👍
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