So here we are, approaching the Golden Fib at $ 5882.82 There are also some other fibs in Confluence in that zone. This zone must bounce it hard, or bulls are in serious trouble.
Will it hold? Don't know but IF we are to bounce soon, THAT should do it. Whats below? Will need to measure the move, and project next targets. What are the odds? imo Very Likely to bounce, plausible it could be bottom.
See my first call for 5882, on Nov 23rd 2019:
Comment
⋅
Just Pinged the all important $7450 golden fib If bulls can take it and flip it to support, then 5882 will be very hard to reach. But lets see if we actually get past 7450, let alone hold it as support.
Thanks for your continued update on this. Does this bounce change your opinion or are you still leaning towards this mark?
EuroMotif
⋅
@mtb1314, Hi there.
This bounce does make me rethink...
Will need to see how the bounce and its retrace plays out.
My decision line is $7450. If bulls can break and confirm that as support, then the 5882 target will be very far away ....
ReallyMe
⋅
@EuroMotif, I doubt it will reach $7450. Looks weak and more like a dead cat bounce, I think it will go back down towards 6.2k before too long
mtb1314
⋅
@EuroMotif, Thanks for the reply. I swear every time I am 99.9% sure we are going to visit the 5000 range BTC pulls off an upset like it did today and completely throws me off. Gotta love crypto.