BTCUSDT | Will Bitcoin Price Reach $40k?

Hello, traders.

After the reaching the target of $28700 from the previous analysis, the Bitcoin price bounced off it and showed the strong relief rally. You can notice that the double bottom pattern was formed and the price have already broke the neckline area.

But the Bitcoin price got a rejection exactly from the 0.61 Fib level which is really concerns me. Because usually this rejection can be followed by the dead cat bounce scenario with the downtrend continuation. If the weekly CPR and the 0.382 Fib level is not able to hold the price the Scenario 2 could play out the targets for this scenario:

weekly S1 - $30400
weekly S2 - $26200

If the $33500 price level is able to hold the price the bullish Scenario 1 could play out with the targets:

0.78 Fib level - $38600
Double bottom's height - $41300

Be very careful now, the zone between $33500 and $35000 corresponds to the uncertainty on the market.

DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.

コメント:

Hello, dear subscribers. The bitcoin formed the ascending trend channel and clearly bounced off to the upside from it's lower band. This level also coincides with the Weekly CPR and the 0.38 Fib. The next strong resistance is $35000. Here we can see the Monthly CPR and 0.5 Fib (61% Fib zone). If the price will clearly break the 61% Fib zone to the upside we can see the price growth to $41000. In case of rejection from this zone the downside target is Monthly S1 ($29000).

コメント:

The price was not able to find support above the 0.5 Fib level ($35050). It had a fake out and break down through the weekly and monthly CPR, trendline and even 0.38 Fib level. There is a high probability that price can return to the CPR ($34900) and bounce off it to the downside. The uptrend continuation condition has not changed: the price should find support above $35050. While it had not happened we are still bearish on the Bitcoin.

コメント:

Hello, guys!
The price tried to re-enter above the trendline, byut got a rejection from the CPR and 0.5 Fib levels. As we told in the previous analysis this is the key level for the uptrend continuation. Now the bearish trend and short trade are still playing out. For this moment the 0.23 and 0 Fib levels are the targets for this decline.

コメント:

The price broke down the 0.38 Fib level ($33600) and now is following exactly with the red scenario. The target for this drop is still the same ($29000), but be very careful next to 0.23 Fib ($31900) because it could be possible pivot point. If you are still holding the short position, you can partially take the profit there.