Bitcoin: A Guide to the Free Flight Zone to 100000 - Analysis and Forecasting
⚠️ Greetings to all esteemed members of our powerful community! ⚠️
➡️ After careful analysis I have come to the conclusion that we have an interesting situation forming. We are near the upper strong resistance zone - the historical high of 69000. A breakdown of this zone could mean a "free flight zone" without testing, which is compared to a "rocket" taking off without those who "forgot to buy tickets".
➡️ Our important goal now is 69400! This is a strategic monthly target and a test zone. A breakdown without a bounce could lead to a breakdown of the entire "conditional triangle pattern" (see screenshot) and the 100000 per bitcoin target. There are gaps in the areas: 77800, 91600, 98187.
➡️ Globally, anything above 69000 is considered a "free flight zone". To reach 100000, you need to go 45% of the way there. The main target is 100000, possibly until halving (April 14, 2024), after which a correction is expected on the weekly TF, possibly touching the Bollinger median and forming a "cup with a handle" near 100000. The target is 132,000 with satellites at 121,000 and 145,000.
➡️ Conclusion: Simple! Breakout on volume and money above 69400, possibly with a correction. Strong bounce and close the day down - possible correction on 1d and possibly 1week. TF.
➡️ My bet on 100000 before halving. Mistakes are possible, I will check myself!
⚠️ Important Areas:
✅Support: 64000, 62250, 61200, 59400, 58400, 57400, 55600, 54650, 52900, 51900, 47300
❌ Resistance: 69400, 72450, 77800, 80900, 91600, 100000, 105500, 119000
#Write2Eam #BitcoinAnalysis #CryptoForecast #To100KJourney #MarketInsights
