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moth_honda
Jan 10, 2018 7:39 AM

BTC - Make up yourmind! $11000? $8500 in play? 

Bitcoin / United States DollarCoinbase

Description

Historically, BTC corrects between 0.5 and 0.618 fibb levels. As you can see, last time it touched the trendline is september. I consider September the official start of the intense rally BTC has generated. I think we're ready for BTC to cool down a bit so the king can go back on his way to 20K and above.

Measuring from september low of 3K and the high around 20K, 50% retracement would put us at 11000 or 9500. Massive panic selling would cause 8500, but I think it'd just be a candlewick unless there is some FUD around at the sametime.

It might take more than you expect since the 13k-14k seems like a solid support.
I would also put my eye on the 17th as that's when BTC futures close. Some volatility to be expected around then.

Good luck everyone.
Comments
a7moushi
good analysis.
moth_honda
@a7moushi, thank you!
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