BTC update - 48k hit ✅ Whats next? What about ETH?

In my previous post I covered the inverse head & shoulders pattern at 38k was complete. I'm removing it from my charts after this post to keep them clean, and the blockchain will keep a receipt for me.😃 I'm just quoting what was my idea in the previous post.

as we finally broke the bear line in green, need to close weekly above to confirm, we can see a rally like in 2019 to fib lvl 0.5 or 0.618 like last cycle. That would be 42 and 48k, I don't see us going higher for this move. A retest of 30k would be expected after the rally, as we have a CME gap at 29.7k..

History simply repeated itself, we hit the 0.618 fib. 48k done.✅ Now what? A retest of market structure as I stated will happen after?

The market is bullish now that the ETF was approved etc. but is it a "sell the news" event or not? If 90% say so, maybe it won't happen? I do not know.. If it is then I stand on my TA as above, a retest of 31k I would say is where we are going. Around the 0.236 fib area, last cycle we had a correction that took us down around there too, also the cycles before check it yourself. But if people fomo here then maybe we'll see a wick up to 57k next fib and close a CME gap at 52k, there should be a correction from there in that case to atleast 35k. I also think it will be short lived as halving is approaching. What do you think? If this will play out I have caught all big moves in Bitcoin since the bottom.👏😂

I hope you enjoyed reading and leave a comment If you want to see more ideas in the future.😃

As a bonus for my readers. Ethereum. Just briefly, the last cycle was a W bottom, this time an ascending triangle. Breakout, retest, continuation? The target for the pattern is actually 4k, I'm aiming for 3k,2 first. Invalidation, close below 2,k1. Not financial advice ofc. Leave a like if you liked it.👍

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Christopher

Kristiansand, Norway

Source: Photos are chart-screenshots by me from Tradingview.com

Legal Disclaimer : Never invest more than what you can afford to lose. I am not a financial advisor and I am sharing my opinion based on speculation. This post is for informational purposes only and provides only my personal opinion. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

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