Bitcoin/USD rate (Nov 2021)
Continuing off the idea of my last 1 hour chart, I expect that by mid January 2022 (or sooner) bitcoin could sink back to about $36k-$40k, maybe even as low as $30k on some of the more illiquid exchanges.
After that, I think next big price range to expect could be approx $58k-$61k. I think one possible scenario for price action could be to bounce up from a $30k-$40k (bottom) towards $58k and then correct back to $44k area before going even higher again. This is the basic idea of my gray candle pattern plot, trends and fibonacci touchpoints I see possible. As for the timeline, I expect that could take 3 or 4 months, to be at the end of the gray plot on a correction by March or April 2022.
The second scenario I think could happen is after coming off of a $30k-$40k (bottom,) bitcoin could follow something along where I've plotted the larger baby blue candle pattern. If that ends up being a more correct trend, I do not think it will correct as drastically but it may take longer to consistently hold price above $61k until at least May-July 2022.
This can and probably will be wrong. Remember, these are notes for me, not for you. Do your own research!
Previous charts I've built coming to this conclusion:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
Continuing off the idea of my last 1 hour chart, I expect that by mid January 2022 (or sooner) bitcoin could sink back to about $36k-$40k, maybe even as low as $30k on some of the more illiquid exchanges.
After that, I think next big price range to expect could be approx $58k-$61k. I think one possible scenario for price action could be to bounce up from a $30k-$40k (bottom) towards $58k and then correct back to $44k area before going even higher again. This is the basic idea of my gray candle pattern plot, trends and fibonacci touchpoints I see possible. As for the timeline, I expect that could take 3 or 4 months, to be at the end of the gray plot on a correction by March or April 2022.
The second scenario I think could happen is after coming off of a $30k-$40k (bottom,) bitcoin could follow something along where I've plotted the larger baby blue candle pattern. If that ends up being a more correct trend, I do not think it will correct as drastically but it may take longer to consistently hold price above $61k until at least May-July 2022.
This can and probably will be wrong. Remember, these are notes for me, not for you. Do your own research!
Previous charts I've built coming to this conclusion:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
