The BTC rate is above $47,000, and the development of P&P continues.
On January 25, we wrote that we would expect a continuation of the rebound if the daily candle closed above the volume level of $39,645. The condition was met, the candle closed at $39,960. Growth since then has been at its peak: +19%.
Then, on February 2, we wrote about the probability of the formation of PG&P on the chart, indicating the start level of development and targets. The pattern began to work out on February 8, growth from the breakdown of the neck line: +8.6%.
The dump on January 12 was absorbed - a key corrective impulse after the approval of spot Bitcoin ETFs. The price has now clearly reached the level of 0.768 on the local Fibonacci (from the high on January 11 to the low on January 23).
WHAT'S NEXT?
The impulse inherent in the pattern has not fully worked itself out. But it’s confusing that when leaving the pGiP there was no retest either on the daily timeframe or, by and large, on the nearest junior hourly timeframe. Therefore, a correction is likely. Especially considering the five (!) green daily candles.
Important supports for correction now:
- volume level $45,232,
- level 0.618 on the local Fibonacci ($44,993),
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Investors Expect to Get Rich with Z Tokens Worth Under $1
Technical indicators show that Avalanche's Fear and Greed Index is 63 (Greed). In addition, AVAX recorded 15 greens in 30 days. Judging by the experts' forecast, now is the time to buy AVAX. AI's 2025 price forecast suggests Avalanche will have a low price of $2.95 and a high price of $241.44. Cryptocurrency price forecast Optimism. Is it worth investing in this? According to CoinGecko, the price of Optimism coin (OP) has increased by 12.2% over the past seven days. Monthly dynamics are in the positive zone at 5.1%, and the annual increase in OP reached 10.2%. Technical indicators show that Optimism is neutral with a fear and greed index of 63 (Greed). Additionally, OP recorded 12 greens in 30 days and showed a price volatility of 9.57% over the last 30 days. By 2025, according to experts, the price of OP may have a minimum and maximum value of $2.72 and $4.28, respectively. In addition, the experts’ forecast for the optimal token price for 2030 promises $6.61 at the lower level and $12.45 at the upper level.#Write2Earn#Optimisum#TrendingTopic#BTC #AVAX
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Shiba Inu (SHIB) is trending flat, but this could be the calm before the storm🌪️. Over the past two weeks, the price of SHIB has fluctuated between key levels: support - $0.0000087, resistance - $0.0000095. Trading volume has been declining since December and volatility has also fallen significantly. The MACD on the daily chart is moving sideways, but formed a bullish cross at the end of January🐂. Neutral outlook for SHIB: Sideways movement is likely to continue until buying volume returns.
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