I should first add the moving average I refer to above is the 4 hourly moving average.
The BTC price did drop below this moving average to ~ $41k but has since risen back over and is now testing the $44k level. Still feel ~ $47k is a good short term target.
We shall see 🤞
Welcome to 2024, and a pump up to $45.6k.
My short term target of $47k looks on, 🤞
My $47k target is looking more like a resistance level at the, moment with the price currently failing to stick above this level.
With the ETFs now approved and now trading I expect the BTC price to break through $47k and rise towards my next target of $50.7k, 🤞.
It has been a wonderful pump today with $50k+ hit.
My price target of $50.7k is not achieved and the price has dropped back a bit to $49.7k.
A lot has happened in the last 2 weeks, BTC currently trading mid way between $57k and $65k. Currently $62.5k as I post this.
I posted the above a week ago and BTC now around $72k, wow.
After a period of consolidation between $65k and $73k I expect an upward breakout to my next target of $83k.
🤞
The consolidation phase is taking longer than I expected with the lower level about $60k and the upper level about $72k but I still expect an upward breakout to my next target of $83k soon.
