Hi guys,
BTC made two successive moves from $28000 ->$34000 and $34000->$37000 in just three weeks without any considerable difficulty. Currently we are right above the Fib. 0.5 which is around $36000 level (following my caclulation).
If this level holds at the end of this week (end of sunday 12/11), BTC is going to move to the $42000 (Fib. 0.618), likely. But as usual, let's be ready for any scenario.
In my opinion, BTC is in consolidation phase (sideway mode) before the next big move. I'll watch its price's evolution using the range as in chart.
For a further projection, I'm quite concerned with the recent bullish moves of BTC because they are not sustainable (or organic). I can imagine that $42000 is a critical level and it is likely that an important correction for BTC would happen at that time.
More details and analyses will be updated in the below comments.
I'll appriciate if you would share also your view.
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
Comment:
Update: This is my view for the moment
Comment:
Range didn't hold. Analysis is no long valid.
My thought right now: Sell is more aggressive than I expected. If weekly candle can close above $36000, then this is a retest of the Fib. 0.5, it is normal. If not, we should pay attention because BTC becomes weak.
My thought right now: Sell is more aggressive than I expected. If weekly candle can close above $36000, then this is a retest of the Fib. 0.5, it is normal. If not, we should pay attention because BTC becomes weak.
