In this chart I compare the two big dips of February 21st and of April 18th.
In February, the trend met support first at the 0.5 Fibonacci level, then it went up to the 0.382 level which acted as a resistance. It went then down to the 0.629 level and then back up repeating the same pattern. It formed a strong W pattern that ultimately broke the ATH.
This week's dip chart looks very similar to the past one. Bitcoin has dipped but it met the 0.382 support level, and after rising a bit it went back down to the 0.5 support.
As of now, BTC should dip again to the 0.382 support (50k - 51k $) and after completing the W patter should skyrocket to 65k+ dollars.
Hope you enjoyed this quick analysis :)
In February, the trend met support first at the 0.5 Fibonacci level, then it went up to the 0.382 level which acted as a resistance. It went then down to the 0.629 level and then back up repeating the same pattern. It formed a strong W pattern that ultimately broke the ATH.
This week's dip chart looks very similar to the past one. Bitcoin has dipped but it met the 0.382 support level, and after rising a bit it went back down to the 0.5 support.
As of now, BTC should dip again to the 0.382 support (50k - 51k $) and after completing the W patter should skyrocket to 65k+ dollars.
Hope you enjoyed this quick analysis :)
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