Technical analysis by MR-V2020 about Symbol BTC on 4/16/2024

This is not investment advice.It only shows the strongest possible movement of Bitcoin for the higher time frameIf the price starts a quick pump from this moment, the target will be $82,612 (this means the minimum price for an upward trend above $82,000)1/13-0/886 ruleThe target was touchedAccording to the law of motion (0.886-1.13), the initial target was touched. But this is just the beginning of the story.Let me restate one of the 16 rules of Bitcoin movementLaw 0/886-1/13When Bitcoin reaches the level of 1/13, it should return at least to the level of 0.5-0.618 (in Fibonacci retracement of the retracement wave). If the wave corrects further and reaches the level of 0.886, then the trend is reversed and a new trend begins. Otherwise, the trend will continueNote that this rule is violated only when it intersects with the rule (0.886-0.886), in which case the rule (0.886-0.886) takes precedence.The analytical model of time and price equilibrium includes 3 parts:1- Drawing Fibonacci diagonal resistances2- draw Fibonacci retracement (expansion) of the last main moving wave3- 16 laws of Bitcoin movementsPossible targets of EthereumTargets 1 and 2 were exactly touched. Crossing the level of 0.886 brings us to target 3