BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This pullback is not a good news at all
It means we are going much down now
This retrace confirms the fibs shown in the chart which means we are one level short of the target

I will look for retrace from 0.7 fib

The alternate scenario was this

But this does not happen

Look out for a much deeper correction

Best of luck
Comment: As expected we are on our way :)
Comment: Its really interesting to see how each fib level acts as the support and then become resistance :)
Comment: Reached the target :)

Related Ideas

@salmanijaz Hi sir. Very good analysis. Do you think btc is still going down to 8k?
salmanijaz PRO Tryingmybest
@Tryingmybest, Yes :)
Tryingmybest salmanijaz
@salmanijaz, However, if it hits above 12.5k it would be uptrend?
As always great analysis!!! I also saw Eth break the trend as well so felt that a correction was on!
salmanijaz PRO ahmedhanihafez
@ahmedhanihafez, Thanks for the comment :)
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