(BTC) - AS SIMPLE AS THAT -

Hello everyone !

Today the Black Cat Trader is analyzing BITCOIN based on a weekly chart 📈


What we can see :

- Prices took support on the 0.5 fib level during the last sell-off back in May 2021.
- Then, bounce to the 0.236 and rejected by this Fib extension which coincides with the median line of the pitchfork too..
- Finally, prices took support on the 0.382 to reach the level 0, which coincides with the intermediary upper line of the pitchfork too...


What we can expect :

- Bitcoin could take support on the median line of the pitchfork to reach the last upper line (coincidence with the 1.618 fib level too). Then, if Bitcoin breaks the last upper line of the pitchfork, the first target is 2,618 (102 811 $)


Resistance 1 : pitchfork intermediary upper line
Resistance 2 : pitchfork upper line

Support 1 : pitchfork median line
Support 2 : 0,236 fib level (50321 $)

——

TP1 : 126 956 $ ( 3.618 + 1.618 )
TP2 : 151 101 $ (fib 4.618)
TP3 : 188 605 $ (fib 2.618)

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