It keeps going up like mad but... It is time for a correction?
Bitcoin reached the 2000$ mark, and nothing seems to stop it escalating up, at least for now...
After some research with Fibonacci, noticed that the 2 first price accumulations after breaking through the 2013 A.T.H. where related, the second accumulation was 1.618 times bigger than the first. Also the wave supports describe quite well the way the price is taking. So everything points to a possible third and maybe last price accumulation between these supports, making the 2400$ mark a strong barrier for the price (also the psychological 2500$ mark makes it a double-barrier), and a good place for a short position.
After some research with Fibonacci, noticed that the 2 first price accumulations after breaking through the 2013 A.T.H. where related, the second accumulation was 1.618 times bigger than the first. Also the wave supports describe quite well the way the price is taking. So everything points to a possible third and maybe last price accumulation between these supports, making the 2400$ mark a strong barrier for the price (also the psychological 2500$ mark makes it a double-barrier), and a good place for a short position.