on btc daily chart , after hitting the target of the last bullish fib at 38728, price did not experience a big sell off and the price did not bounce back completely, which could indicate market waiting for higher prices.
in terms of fib levels, the next resistances on the way up we have the .5 of the last monthly bearish run at 43191 which could halt the price ascending higher than that for some days, if sso and if the porice bounces abit back from this line, then we can have the 47342 as the next target, being the -.236 of the current daily bullrun, jest below the monthly bearish lvl .618 at 47565. this line in addition to the target line being jest below can cause some price decline which could create an opportunity to sell and buy at the local dip which should be around the .5 of the same fib at 43191.
according to these details, the suggestion for a trade would be:
long entry at above .5 (43191)
target -.236 at 47342
re-entry at .5 (43191)
and another one just before that :
entry at the break of -236 at 38728
exit at .5 at 43191
always R:R 1 to 4 or above
and obviously not a financial advice
in terms of fib levels, the next resistances on the way up we have the .5 of the last monthly bearish run at 43191 which could halt the price ascending higher than that for some days, if sso and if the porice bounces abit back from this line, then we can have the 47342 as the next target, being the -.236 of the current daily bullrun, jest below the monthly bearish lvl .618 at 47565. this line in addition to the target line being jest below can cause some price decline which could create an opportunity to sell and buy at the local dip which should be around the .5 of the same fib at 43191.
according to these details, the suggestion for a trade would be:
long entry at above .5 (43191)
target -.236 at 47342
re-entry at .5 (43191)
and another one just before that :
entry at the break of -236 at 38728
exit at .5 at 43191
always R:R 1 to 4 or above
and obviously not a financial advice
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