spyxo2x
Long

Bitcoin Long Term Analysis + possible outcomes in short term

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello,

I'm a beginner in TA and would appreciate all relevant feedback.

Using the LOG format, it seems that the Bear cycle is not over, however a Fibonacci alternative also persists.

As you can see, we are soon at the 0.786 Fibonacci Retracement , and there is a chance that we will bounce from here. However looking at the other indicators, there is also a possibility that we started a longer term downtrend till August 2018 and could go as low as %3,200 before going up to new heights.


If you agree with my analysis, I would be grateful if you left a like on this post.


-Hawk
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