$BTC next target $115,000 here is why
In daily timeframe Bitcoin has broken falling wedge pattern and is retesting it's support on trend line.Bitcoin could go down to $92,000.
In the chart -
- The region with green rectangle is a fair value gap after a bullish BOS.
- The region in yellow box is bullish order block.
Now the setup is Bitcoin could fall to these territory meaning that Bitcoin could fall to $91,000 to $96,500. After reaching in these levels Bitcoin could consolidate a bit and would start to go up. This is only valid if bullish confirmation is seen in between these levels in Daily timeframe like a bullish engulfing candle etc.
At spot level accumulate as much Bitcoin you could between these levels $91,000-$95,000 .
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I am expecting a reversal around $95,000 because according to Fab Retracement strategy $95,000 is a golden zone. And i think maximum pull back would be $93,000 ,but nothing is clear at this moment.
In Daily timeframe RSI is at 43.99 showing bearish now. Price is above 55,89,144 EMAs which shows bullish sign.
DYOR.
Anyways buying Bitcoin for long term is good as it's sure Bitcoin could go further highs in future.
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