The BTC daily chart is currently bumping up against two major Fibonacci resistance zones. If BTC fails to break above these zones decisively I believe we will start a 1-4 day retrace downwards.
Comment:
Well it seems right after I posted this BTC proceeded to punch right through my "major"resistance point LOL.. can't win 'em all guys. In the way of updates here it is...bitcoin seems to be doing it's established pattern of taking a leg up and then "resting" for a few hours before resuming the onslaught. Unless we get a pull back below the .618 (11,161 USD) before the end of the day, which at this point seems unlikely, I have no choice but to assume BTC will journey onwards and test the .5 fibonacci line at 12,782 USD. Good-luck out there guys and as it is currently bear hunting season I would recommend a "shelter in place" strategy for all the bears...remember...this too shall pass.
Comment:
WOW! right again, very lucky indeed :)