Ok, I took "the bubble chart" of Nasdaq Composite and made simple visual comparison. Looks similar huh?
IXIC had a 0.236 fibo retracement bounce twice, this is ~5000-5500 USD for BTC, which is coincidentally the level of support.
If we consider BTC market moving similar to stocks but way faster, we will enjoy BTC at 30000 USD or more (1.618 fibo) in December after reaching 5500 USD in a week or two.
Keep in mind, this is just an idea based on similar behaviour, not an investment advice.
IXIC had a 0.236 fibo retracement bounce twice, this is ~5000-5500 USD for BTC, which is coincidentally the level of support.
If we consider BTC market moving similar to stocks but way faster, we will enjoy BTC at 30000 USD or more (1.618 fibo) in December after reaching 5500 USD in a week or two.
Keep in mind, this is just an idea based on similar behaviour, not an investment advice.
Comment:
Previous chart from December
