WadeYendall

40% pull back a reasonable possibility

BITFINEX:BTCUSD   Bitcoin
BTCUSD is within striking distance of the 1.618 extension inversion as measured from the Dec 2017 high to Dec 18 low. A modest fib pull back to the .236 would give us 40% decline. The measurement lines up nicely with the ascending long term trend line on this log chart. I am extremely bullish on Bitcoin, but its good to keep in mind the ridiculous percentage range BTC has. So in short we may see 30/35k again before we see 100k.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.