Bitcoin – what is the limit of this growth?

06.02.2022 8:01 pm

Hello, everyone!

You already know that I suppose that the Bitcoin is in bear market, also you know that I executed long trade at $36300 because the bounce was anticipated. Now we see this bounce and the main question is what the highest price this growth can reach. I am going to take profit only if bearish signal occurs and now I just want to imagine the possible scenarios. But you should know that the scwnarios and analystics, to be honest does not matter. I execute the trades when see the clear signal with the proper risk to reward ratio. Now it is not the time to buy or sell BTC. If you bought BTC with me just relax and enjoy the analytics!

The price clearly broke to the upside the monthly CPR and 0.23 Fib level ($39300-39700). The price can test this level as a support, but it is not obligatory. If it is the case, the scenario 2 with the small bounce is going to play out. In case of this correction the bearish divergence with MACD will be formed, which can be the sign of the bounce end.

I want to see the scenario 1, when the price is going to grow faster with the final target at Fib golden pocket (approximately $50000).

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