A new high for btc or a reversal at the Golden (fib levels)
With Bitcoin continuously being bullish for the whole year and and trended to a new year high of 38400, even though we might expect a pullback particularly after weekly structural high taken out and trended into a monthly fair value gap.
Price range 34000-30000 could pose to be a a strong range area for bulls to get into the market again and look to ride the wave of price into the 62% area of the fib (golden line/level). This level is of a great interest because it is inside a monthly timeframe fair value gap that could also serve as an area of reversal with the monthly timeframe bullish structure liquidity taken out on may 2022.
Of course we won’t look to sell from this area except we begin to see the market make lower highs and lower lows.
Furthermore, price could continue ride its current weekly bullish trend and taking out the liquidity at 69000 thereby pushing to form a new ALL TIME HIGH.
Except we do see a change of structure from the weekly timeframe
34000-30000 price range is the best possible range for bulls to look to enter more positions or probably join the trend if they are yet to join (this could change as the weeks go by) and possible ride the weekly trend upto 48000 or break the current all time high at 69000 and form a new all time high.
Price range 34000-30000 could pose to be a a strong range area for bulls to get into the market again and look to ride the wave of price into the 62% area of the fib (golden line/level). This level is of a great interest because it is inside a monthly timeframe fair value gap that could also serve as an area of reversal with the monthly timeframe bullish structure liquidity taken out on may 2022.
Of course we won’t look to sell from this area except we begin to see the market make lower highs and lower lows.
Furthermore, price could continue ride its current weekly bullish trend and taking out the liquidity at 69000 thereby pushing to form a new ALL TIME HIGH.
Except we do see a change of structure from the weekly timeframe
34000-30000 price range is the best possible range for bulls to look to enter more positions or probably join the trend if they are yet to join (this could change as the weeks go by) and possible ride the weekly trend upto 48000 or break the current all time high at 69000 and form a new all time high.
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