BTC breaking up - targetting 57.5k-60k area

BTC has today broken through the 0.618 fib retracement level from the spring/summer pullback

I'm now looking for bullish continuation upwards - although waiting/hoping to see the 0.618 fib level hold. I'm already long / holding BTC.

TP1 - $57,500 - 0.786 fib retracement level
TP2 - $59,500- retest of last lower high on 10th May 2021

4hr time frame shows bull flag after bull flag and the 0.618 fib acting as support for now

Ordre annulé:

Cancelled and targets put on ice... I waited a few days to see reaction at 0.5 fib after the massive sell off but the break out has been invalidated in any case.

This on the same day El Salvador begins accepting BTC as legal tender.

The fibs remain key levels to watch over the course of the coming days / weeks.

Commentaire:

Updating a week later:

2hr view - broke above 0.5 fib and anchored vwap from the top - $49,000 next resistance zone

Daily view - second daily close above 0.5 fib

Daily EMA ribbon looks bullish

Let's see what happens over next few days - next resistance zones ar $49k and 51k