IBIT
March 11, 2024 As of now, the uptrend is intact. Broke the box. On retest took support at the bottom of the rectangle and now above box.
The sideways movement has given enough time for moving averages to catch up.
For the rise of 34.03 to 40.2
IBIT
retraced to 37.77 which is approximately 38.2% retracement. And for the fall 40.2 to 37.77
IBIT
is around 39.6 well above 61.8% levels. Holding 38.7 I expect the uptrend to continue for an initial target of 41.5 to 42.5 levels.
I am holding longs at the moment for 42+- 0.5 as targets.