Bitcoin  & Macro Market Analysis - November 18th

The next item is iShare Bitcoin Trust Weekly Chart.

This is the largest BTC Spot ETF run by BlackRock.

The candle bar move is very similar to that of $BTC market.

For last week, this chart hit 1.618 based on Fibonacci Retracement (the price level is around at 50.6) as I marked in the orange circle.

This also happened earlier than I expected.

This was the conservative scenario of falling wedge pattern.

Aggressive scenario is 58.98 as I marked in the sky-blue circle, which is at +16.7% from the current price level.

For last week, all BTC Spot ETFs bought 27,120 bitcoin.

The previous week was 19,020  bitcoin.

For more detail:
https://orblabs.ventures/104494/

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