Since BTC rally in the end of May we can see clear ray resistance/support for Bitcoin. Noteable, hard support at 0.25 (end of July pre New York agreement and China FUD).
After a big rally we finally saw a correction of BTC, last one of the 2017.
At the moment we see BTC finding support at 0.618 ray and I believe it will continue the uptrend within it to see new all time high at the end of January / early February.
When to buy BTC: any level below the 0.618 ray for lower risk, medium risk to buy on the ray.
Possible BTC slowdown if we fall into 0.618 zone, then we will be looking at all time high at the end of February.
For those who are looking at 8000 BTC entry - I almost certain this woun't happen unless some HUGE bad FUD will take place (i.e. similar when we saw 0.25 twice this year).
As soon as BTC will set a new all time high current graph will be irrelevant.
After a big rally we finally saw a correction of BTC, last one of the 2017.
At the moment we see BTC finding support at 0.618 ray and I believe it will continue the uptrend within it to see new all time high at the end of January / early February.
When to buy BTC: any level below the 0.618 ray for lower risk, medium risk to buy on the ray.
Possible BTC slowdown if we fall into 0.618 zone, then we will be looking at all time high at the end of February.
For those who are looking at 8000 BTC entry - I almost certain this woun't happen unless some HUGE bad FUD will take place (i.e. similar when we saw 0.25 twice this year).
As soon as BTC will set a new all time high current graph will be irrelevant.
Comment:
We have fallen to 0.5-0.618 channel into accumulation zone. I expect good support on 0.5 ray and trading in the channel for upcoming weeks before we will see another bull run. I think chances of touching 0.382 support are low. Woun't expect price to go back into 0.5-0.618 level until mid-Januray.
Comment:
We continue to move within 0.618 - 0.75 channel and found resistance at 0.75 ray. Testing support of 0.618 again. Last time we went to 0.5-0.618 we had enough buy volume, I expect BTC to keep trading on the 0.618 ray.
Comment:
For upper comment - obviously .618 resistance as we can not break into the mid-channel yet. If we can see BTC stabilize on .618 ray we might test .75 but I don't believe we will see a rally just yet.