After the impulse rush down 1 week ago it is no wonder that we could manage to fall below the 1 month old trading range. Both the rush and the breakout signal the will of the market to correct the long rise since September. The overbought situation was to strong and many may be willing to take profit now. It is not excluded that the rise of the Bitcoin will have an end now. The hoped for news are digested and it will take time until new important news expectations will emerge.Time for many to take the hat out of the ring and go wait at the sidelines.
A correction due to Fibonacci's rules may be expected at least.
A correction due to Fibonacci's rules may be expected at least.
Trade closed: target reached