BitcoinLong
If BTC can hold above $9,770, $11,341 is the next target
The Fibonacci tool is used for the run up from $3,122 to $13,880, based on two opposing fractals on the monthly timeframe - a textbook definition of an Elliot wave.
So far we've seen the price reach lows below $7,000 but BTC-USD gyrated around the Fib level at $7,231 before providing confirmation of a reversal with a strong upmove to reach the next Fib level at $8,501.
The price is currently just above the Fib level at $9,770. The road to $11,341 is open as long we stay above this level. A weekly close above $9,770 would give further confirmation and a good entry into a long position targeting $11,341.
So far we've seen the price reach lows below $7,000 but BTC-USD gyrated around the Fib level at $7,231 before providing confirmation of a reversal with a strong upmove to reach the next Fib level at $8,501.
The price is currently just above the Fib level at $9,770. The road to $11,341 is open as long we stay above this level. A weekly close above $9,770 would give further confirmation and a good entry into a long position targeting $11,341.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.