BTC is ready for Retracement till $80k
2024-12-20
Category: None

BTC is repeating previous swing low pattern, Mean BTC in longer run is till bullish and right now its doing retracement for new swing high.

In a longer run, BTC will retrace till 0.5 Fib level  which is $80300, and approx. duration for this retracement would be. 180 days (6 Months).

After retracement completion BTC will rise for $140k.

Confluences  : RSI is showing divergence, mean for now Long trades will be invalid in monthly Chart.
Last ABCD pattern is also completed , mean Swing High is defined now.
I am not seeing any High now till the retracement will be completed.