Bitcoin (BTC) can hit all time high 119,620

5 Oca

Fibonacci technical analysis: Bitcoin BTC1! has already hit its first target at Fib level -27.2% (108,395) of my Up Fib. Price currently showing shallow consolidation with support at Fib level 23.6 % (91,920). As long as there are no Daily candles closing below Fib level 23.6% (91,920), my Up Fib guides me to look for Bitcoin to eventually hit its second target at Fib level -61.8% (119,620). I would not close any open positions on BTC1! just yet.

I have a smaller Up Fib from 92,355 to 100,925. Last Daily candle (January 3) has closed above the Fib level 23.6% (98,905) which indicates a buy signal. Stop loss slightly below the 38.2% retracement Fib level (97,650).

Long on Bitcoin (BTC):
Short term Target 1 at 103,255, Target 2 at 106,220, Target 3 at 107,660
Long term Target 1 at 108,395 (already hit) and Target 2 at 119,620

7 Oca

İşlem aktif

Target 1 of smaller Up Fib hit today! (Target 1 at smaller Up Fib -27.2%) I DayTrade and so have closed at Target 1.

For Swing Traders: Target 2 at 106,220 and Target 3 at 107,660 possible but be cautious as today's Daily candle (Jan 6) closed below -27.2 indicating possible short term downward movement tomorrow, Jan 7.

Long term Target 1 (108,395) and Target 2 (119,620) has not changed.