Sunday, March 12, 2023

The price of bitcoin is currently near the 0.618 FIB. Usually it acts as a magnet when the price is near this very strong level.
The market moves in waves, and wave A should end exactly at the 0.618 FIB. After we reach this level, we are going to go up to retest the previous major trendline because we have a huge unfilled gap and an untested pattern. After that, we are going to go down again to 17600 - 17400 to fill the previous GAP and complete the ABC correction.
I recommend you buy Bitcoin at these levels with a profit target of 30k+. I will make an update and you will know exactly when to sell, so make sure you follow me and also hit the like button right now if you want more updates on BTC!
There is a pretty good chance to visit the 10k level; if you haven't seen my previous analysis, make sure to check it out in the related section down below!
On the chart, you can see the most likely scenario for Bitcoin . Let me know in the comment section: what is your plan? I want to know your opinion, and I will answer your comment!
The price action on Bitcoin is very well readable. The structure is well-made at this point. Make sure you also have a bearish and a bullish scenario on the table.
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
Thank you, and I wish you fun during your trades!