Crypto Investment Update – BTC Next Target Level

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2024/11/11/crypto-investment-update-btc-next-target-level/

Disclaimer: This post is just for educational sharing purposes. Please do your own due diligence on any products mentioned in this post.

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As mentioned in my Crypto Investment Update – October 2024 blog post, I set up a Sell Limit Order for BTC after the previous ATH in March 2024. That order was triggered on 7 November, and BTC continued its upward movement setting new ATH levels, currently almost hitting 82,000.

I intend to take further partial profits on BTC, so I take a look at BTC chart (as of 11 November 2024) to determine the next target level:

As BTC broke out of the Bull Flag pattern, the target level would be measured from the lower boundary of the flag channel with the height of the flag pole. I used the Fibonacci Extension tools to do the projection, and the 100% FibExt level is 98,250.

My Tokenize Exchange base currency is in SGD, so I set up a BTC Sell Limit Order at 130,000. If the current upwards movement continues, this level may be hit by December 2024.

Keeping my fingers crossed.

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Tokenize Exchange:
https://tokenize.exchange/topic/invited/?invite_code=Vn58M