Suspicions of an Bitcoin correction.

20 июл.

For Bitcoin, a similar correction formation could result in a ±10% move to the $60,000 range, targeting the 50% Fibonacci level.




In the general group, I mentioned a possible correction for Bitcoin to around $60,000 and Ethereum to $2,800-$3,000. I have decided to temporarily exit my positions. If the correction occurs, we will look for entry points at lower levels.

#btc #bitcoin

20 июл.

Заметка

Looking at the liquidation levels for Bitcoin over the past three months, it appears that the market maker has cleared out the first batch of short traders. A 50% Fibonacci correction is needed to accumulate more short positions, making it easier for Bitcoin to rise above $70,000.

Currently, I'm considering this scenario: from the current prices, I anticipate a Bitcoin correction to around $60,000 and Ethereum to $2,800-$3,000, followed by a rise above $70,000.

How much higher?

If we compare the Fibonacci zones of 161.8%-227.20%, the target range is $89,000-$100,000. Limit orders are present in that area on the order maps from Binance and Coinbase.

If this scenario unfolds, we can conclude that this will mark the alt season and a significant rise in altcoins, along with the approval of the Ethereum ETF and an influx of 100-200 million traders from Hamster Kombat.





These are my current thoughts on the crypto market situation. 🤔🤔🤔

23 июл.

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