After the big fall on the 16th and 17th of Jan, Bitcoin recovered and tested previous support that became resistance at $13,000 and this level held. What followed was a big bearish engulfing pattern on the 21st of Jan indicating further downside ahead. First target is the long term 61.8% Fibonacci retracement at $8079. Due the nature of this market this level might not hold and a deeper fall is expected. Second target is $5k on the 78.6% Fib. Stop loss above $13k.
Trade closed: target reached:
Whaaaat up!!!
Comment:
Leaving some on the table for R5k