Another chart, first in a while but ive been watching the recent market moves and can see why most analysts dont know where #BTC will be going. Well, heres what I think.
I called the weekend drop to 9800, the retracement was healthy for traders the price had been in the uptrend too long and needed to pull back before continuing a confirmed bullish trend.
Im no expert in Fib using, though have given it a try on this one.
I think where we are at right now is a good level of support, though do think we will pull back to another previous level of support at the 9600s. I dont think we will stay there too ong, nor go down too low but I can see it coming.
Most are calling for a bounce back from the 9800s were we are at now, however with BTC we never know. A pull back to 9600 or so would strengthen the Altcoin market also possible inducing more interest in BTC.
The masses are now becoming more comfortable with Bitcoin in the space, they are now recognizing it. Long term, I am BULLISH, however for the short term, intra-day trading opportunities I do think an open mind is needed. (along with large margins and patience lol)
I called the weekend drop to 9800, the retracement was healthy for traders the price had been in the uptrend too long and needed to pull back before continuing a confirmed bullish trend.
Im no expert in Fib using, though have given it a try on this one.
I think where we are at right now is a good level of support, though do think we will pull back to another previous level of support at the 9600s. I dont think we will stay there too ong, nor go down too low but I can see it coming.
Most are calling for a bounce back from the 9800s were we are at now, however with BTC we never know. A pull back to 9600 or so would strengthen the Altcoin market also possible inducing more interest in BTC.
The masses are now becoming more comfortable with Bitcoin in the space, they are now recognizing it. Long term, I am BULLISH, however for the short term, intra-day trading opportunities I do think an open mind is needed. (along with large margins and patience lol)