๐จ $BTC ANOTHER PERSPECTIVE ๐จ
Current Price: $70404
โผ๏ธ This perspective is based on price action which I was expecting BTC to continue to follow and is being presented as an educational purpose and for the sake of more understanding the market movement. It is not recommended to follow but to analyze the movements of the market and potential areas it might visit.
๐ In the chart given below, I have used 3 yellow resistance lines the BTC price has been respecting.
๐ I have used FIB to draw support and resistance areas to get confluence.
๐ So far BTC has been following these areas and the price has either respected the areas and if ignored in one move, these areas are visited in the next move.
๐I have posted the image in which BTC is following the same pattern for past 13 straight weekly candles which is circled and is also copied in a rectangle near the current price.
โผ๏ธIf BTC continues the same pattern then:
I am expecting BTC to make 2 more consecutive green weekly candles and then make another ATH and with that a quick drop to $50500 area again.
This might lead to a correction before going again to another ATH.
โผ๏ธ If BTC doesn't make two straight green weekly candles, 1 closing today and 1 next week. Then this chart ๐ is invalidated.
โญ๏ธ This is just an informational post.
โญ๏ธ Please DYOR before you open any trade or invest money.
โญ๏ธ Always keep an eye on market volatility.
