You see I drew some lines based on candles highs and lows. I made a grid where you obviously can see 2 bullish trends and 2 bearish
the bulls are way stronger on BTC That's what I see
Allright
So let us say bullish BTC gets a correction to the 38.2%, it needs to break 2 bullish lines at the least, and if BTC waits longer it needs to break 3
So it's unlikely to happen
on the other hand, to try to breach the 50% ,now there is an open pathway for the current candle. if the current candle closes in red it needs take down only one more line
which is way more likely looking at the current trend
once the 50 % has been breached, there is a small resistance at 12K and 12.7K
After psychological and important 13K is breached, we go to last small resistance 13.3K to breach the 61.5%
After that, BTC is unleashed to go to 20K
Always difficult and arrogant for timeframes but I'm quite convinced BTC will be flirting with 61.8% taking corrections into account, beginning of march.
Regards,
William The Conqueror
the bulls are way stronger on BTC That's what I see
Allright
So let us say bullish BTC gets a correction to the 38.2%, it needs to break 2 bullish lines at the least, and if BTC waits longer it needs to break 3
So it's unlikely to happen
on the other hand, to try to breach the 50% ,now there is an open pathway for the current candle. if the current candle closes in red it needs take down only one more line
which is way more likely looking at the current trend
once the 50 % has been breached, there is a small resistance at 12K and 12.7K
After psychological and important 13K is breached, we go to last small resistance 13.3K to breach the 61.5%
After that, BTC is unleashed to go to 20K
Always difficult and arrogant for timeframes but I'm quite convinced BTC will be flirting with 61.8% taking corrections into account, beginning of march.
Regards,
William The Conqueror