$BTC The price of Bitcoin determines the path to US$90,000🔥🔥🔥🔥
The price of Bitcoin needs to close daily above US$75,190.98, which is the Fibonacci level 0.236 drawn from the bottom of the pole at US$64,869 to the peak at US$78,379. This level has already been tested and rejected on April 20, so the flag cluster resistance remains intact.
A convincing close above US$75,190 opens the way for the flag to move higher. The pole projection, calculated by extending the pole movement by 20.72% from the breakout point, targets US$90,841.57 on the chart. If the breakout is confirmed with volume, it means an increase of about 21% from the current zone.
📈Bitcoin Price Analysis
Today's price increase marked by a green candle has not been accompanied by an increase in leverage in derivative products. This is a healthy sign, as this movement still has room to sustain without immediately facing a long squeeze. If the breakout is confirmed, then the leverage reset could change from a neutral condition to like a spring that is fully loaded.
🔥The nuance of this pattern is the existence of two failed attempts to break through the ceiling. A deeper retest to the level 0.382 at US$73,218 or level 0.5 at US$71,624 could occur as preparation before a cleaner second attempt. If the price drops below the level 0.618 at US$70,030, this bullish pattern will generally be considered a failure.
For now, US$75,190 is the boundary between the opportunity to continue the upward trend to US$90,000, or the potential for a deeper retest that could eliminate the potential for this bull flag increase.
#RAVEWildMoves #KelpDAOFacesAttack $BB $BOB
The price of Bitcoin needs to close daily above US$75,190.98, which is the Fibonacci level 0.236 drawn from the bottom of the pole at US$64,869 to the peak at US$78,379. This level has already been tested and rejected on April 20, so the flag cluster resistance remains intact.
A convincing close above US$75,190 opens the way for the flag to move higher. The pole projection, calculated by extending the pole movement by 20.72% from the breakout point, targets US$90,841.57 on the chart. If the breakout is confirmed with volume, it means an increase of about 21% from the current zone.
📈Bitcoin Price Analysis
Today's price increase marked by a green candle has not been accompanied by an increase in leverage in derivative products. This is a healthy sign, as this movement still has room to sustain without immediately facing a long squeeze. If the breakout is confirmed, then the leverage reset could change from a neutral condition to like a spring that is fully loaded.
🔥The nuance of this pattern is the existence of two failed attempts to break through the ceiling. A deeper retest to the level 0.382 at US$73,218 or level 0.5 at US$71,624 could occur as preparation before a cleaner second attempt. If the price drops below the level 0.618 at US$70,030, this bullish pattern will generally be considered a failure.
For now, US$75,190 is the boundary between the opportunity to continue the upward trend to US$90,000, or the potential for a deeper retest that could eliminate the potential for this bull flag increase.
#RAVEWildMoves #KelpDAOFacesAttack $BB $BOB