Bitcoin Weekly and a New Trend
Welcome to a New Set of Fib Circles on a Bitcoin weekly chart
These circles are confirmed as you can see on the chart.
In the previous Set, we had the March '21 and Nov '21 ATH. rejected by the 1.618 and the 2.618 respectively.
Look at how this New Set has also shown rejection at very similar positions.
Also note how the 2,618 Fib circle crosses the long term descending resistance off the March '21 ATH, bang on the support line
For me, this has confirmed the beginning of a new trend as these circles correspond very closely with previous PA
PA will bump into the 1.618 mid January and if this follows, we may well see rejection, unless we manage to get over resistance before hand.
The REAL challenge will be the 2.618 in early Jan '24, 12 months after we pushed up off the lows
I cannot help thinking that PA reaction to Fib circles may have reversed from previously as the idea of a strong rejection off that 2.618 does not Fit with expectations.
But then, This is Crypto and full of surprises. We will see what happens in a week or so with the 1.618 and move from there
These circles are confirmed as you can see on the chart.
In the previous Set, we had the March '21 and Nov '21 ATH. rejected by the 1.618 and the 2.618 respectively.
Look at how this New Set has also shown rejection at very similar positions.
Also note how the 2,618 Fib circle crosses the long term descending resistance off the March '21 ATH, bang on the support line
For me, this has confirmed the beginning of a new trend as these circles correspond very closely with previous PA
PA will bump into the 1.618 mid January and if this follows, we may well see rejection, unless we manage to get over resistance before hand.
The REAL challenge will be the 2.618 in early Jan '24, 12 months after we pushed up off the lows
I cannot help thinking that PA reaction to Fib circles may have reversed from previously as the idea of a strong rejection off that 2.618 does not Fit with expectations.
But then, This is Crypto and full of surprises. We will see what happens in a week or so with the 1.618 and move from there
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.