roblever

Bitcoin - Price Action Predicted

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Here I'm using key trend lines and most importantly the 78.6% fib line to predict price action in the coming months. If we compare to the dot com bubble of the early 2000s, the key level of support there was 78.6% so why not the same for Bitcoin (internet 2.0!). The safest move is not to catch the falling knife but wait for a strong V shape with new higher highs or wait til price goes above the 200 Moving Day Averave and retests it as support. However, IF I was to just throw some money at a key level 4500 seems the best bet right now!

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