If you look at my chart this time, you will see that there's always been a drop in price, a recovery close to 0.618 on Fibonacci, and then a retracement from there.
Watch Fibonacci levels closely guys. We have had 7 cycles of this same pattern since the all-time high.
Look at my last post about BTC being a feline and having 9 lives. I believe we will also have 9 cycles of this 0.618 Fibonacci pattern before turning . We're still in a bear market and it will take a few more weeks/months before we switch .
I still believe we will fall to $2800 and $2000/1800. Our last two 0.618 Fibonacci patterns will see us go down to these prices. If we drop to 2k/1.8k first, then the second will be a higher low at 2.8k.
See you guys! Have a good weekend!
It looks like the analysis coming into fruition and that the price is getting ready to drop after hitting 0.618 on the Fibonacci retracement.
The Tether and Bitfinex FUD came in right after we got to that level and I don't believe Bitcoin will go anywhere close to 6k yet. We are most likely to drop further for now before seeing any rally, at least that's the more healthy way for a bull run.