Quick / fresh bitcoin chart for potential end of month targets, plus secondary targets moving forward. Bitcoin may create a double top here, but it could also still be bullish. Let's plan for both.
Bull / Fail conditions:
- Need to stay above the lower orange line, or if we drop below it, we need to get and stay back above it.
- If tomorrow's daily closes within the channel, even better.
- Get back above the upper orange line to continue towards target, or bounce back and forth in the uptrend channel until we eventually break it.
Bear / Success condition:
- Fall below the lower orange line, fail to get back above it if there's any re-test.
Targets shown on the chart, corresponding with fib levels:
- Bull targets in green, dashed lines are 1/2 way points to solid line TPs 1 and 2
- Bear targets in red, dashed lines are 1/2 way points to solid line TPs 1 and 2
Overall outlook:
- bitcoin is still bullish unless we see a significant drop much lower than the last one, would need to get well below 29730 and fail to get back above it, for example. These are short -> mid-term targets.
Bull / Fail conditions:
- Need to stay above the lower orange line, or if we drop below it, we need to get and stay back above it.
- If tomorrow's daily closes within the channel, even better.
- Get back above the upper orange line to continue towards target, or bounce back and forth in the uptrend channel until we eventually break it.
Bear / Success condition:
- Fall below the lower orange line, fail to get back above it if there's any re-test.
Targets shown on the chart, corresponding with fib levels:
- Bull targets in green, dashed lines are 1/2 way points to solid line TPs 1 and 2
- Bear targets in red, dashed lines are 1/2 way points to solid line TPs 1 and 2
Overall outlook:
- bitcoin is still bullish unless we see a significant drop much lower than the last one, would need to get well below 29730 and fail to get back above it, for example. These are short -> mid-term targets.
