This post is for all the fearful who have not yet been in the market in 2017. Corrections of this kind in the bull cycle are quite normal from my point of view. I still see us on track.
I have analyzed the situation with the Trend-Based Fib Extension and also with the "normal" Fibs. In all cycles we could come to a similar result: the first top was at 1,618 and the main top was at 2.36. If we compare "normal" Fib with Trend-Based Fib Extension, we would reach the top at 3,618. Exactly at the same point.
One more remark, even if we only reach the 1 at Trend-Based Fib Extension, that would be at 90K and the 1,414 would be at my minimum top of around 115K.
As a Hodler who buys Bitcoins and does not sell them, I am still quite relaxed about this move. The main resistance at 39.5K has held. Thus, this could be a roughly -40% move like 2017. Next week it can go straight up again. Lets see. Lets cross our fingers! ;-)
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Let's see what happens. Happy trading. :-)
BTCINVESTING
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My Post from Jun7: "BTCUSD: Another bad news for bears!"
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My Post Apr 15, 2019 (2 year ago!). I was one of the first btw. ;-)
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This zone should hold. Detail chart.
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39585 should hold. chart is still valid snd bitcoin on track.