Crypto Eagles
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👩🚀 #REVIEW BITCOIN GLOBAL
I've seen a bunch of charts calling for immediate dump to $80k. I understand the vibe: guys got liquidated and now they don't want to see prices bouncing back. However, I don't really see a scenario where $BTC goes to $80k before $120k!
This magic line of $120k (or more precisely $122k) is formed of macro Fibo retracement. You see, mid level around $69k perfectly interacts with the extremes on the chart: look how natural are key 0.382 and 0.618 levels! When you see this kind of coincidence, you start to treat $120k seriously.
You may wonder, why I expect a dump back to $80k after testing range highs? This is simple range trading logic: usually the price goes for a correction at least until 0.618 Fibo level. Is there a chance of breaking above and never going back? Of course! This is just one of millions of possible outcomes.
Together with pathetic vibes after billions of liquidations, a move up to $120k would be painful to many traders. That's why it's so likely to happen!
#BTCHovers100k
I've seen a bunch of charts calling for immediate dump to $80k. I understand the vibe: guys got liquidated and now they don't want to see prices bouncing back. However, I don't really see a scenario where $BTC goes to $80k before $120k!
This magic line of $120k (or more precisely $122k) is formed of macro Fibo retracement. You see, mid level around $69k perfectly interacts with the extremes on the chart: look how natural are key 0.382 and 0.618 levels! When you see this kind of coincidence, you start to treat $120k seriously.
You may wonder, why I expect a dump back to $80k after testing range highs? This is simple range trading logic: usually the price goes for a correction at least until 0.618 Fibo level. Is there a chance of breaking above and never going back? Of course! This is just one of millions of possible outcomes.
Together with pathetic vibes after billions of liquidations, a move up to $120k would be painful to many traders. That's why it's so likely to happen!
#BTCHovers100k
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