Weekly Daily
BTC has moved almost 50% from its break of 75000 on 11/6 and has been strong ever since. Investors are happily holding their shares and with a lot of conviction behind this retailers are also adding here expecting to move price even higher. $100,000 was a very psychological level that retail and big investors talked about and looking at the chart I believe it to be extended. There is something that caught my eye that may be under the radar for many
IMO, I believe that BTC needs to pull back more to move higher. As seen in the past, the price ranged from 49423 to 39309 before breaking out into its new range.
Notice that after every range breakout, there has been a retest from it breakout level before making a new leg higher
This was the first range created between 31860-25130 BTC was in at the start of this bull run in March of 2022
After price broke out of range 1, range 2 has been formed from 49423 (Psyc Lvl 50000)- 39309
Present…
After ranging ALL YEAR from 75000-49423 price finally broke out of this major range and pushed to the psyc level all investors were talking about at $100,000
NEW RANGE: 108960-74637
The major retest level I will be looking out for is $75,000
On the Intraday I believe that a pullback can still be expected
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