Hi everyone!
It is my second attempt to enter sale on bitcoin. It is not simple to predict the end of growth of bitcoin now as the price never was such high. It is a historic high. Because of it there are no resistance and earlier saved up volumes, many trend lines are broken. Therefore the only correct way of forecasting, in my opinion, is the wave analysis and also Fibonacci's expansion. I consider, the price is in a wave of III of (III) and has the lengthening form. As the following level of Fibonacci level about 30000 acts. Proceeding from it I expect the beginning of big correction since this level of the price. For myself I set as the first purpose the last reached high equal about 19950 that will correspond 0.382 according to Fibonacci of this growth.
Sale on = 29650
TP1 = 19950
SL = 30800
I congratulate all on coming New year!
Information provided is only educational and should not be used to take action in the market.
It is my second attempt to enter sale on bitcoin. It is not simple to predict the end of growth of bitcoin now as the price never was such high. It is a historic high. Because of it there are no resistance and earlier saved up volumes, many trend lines are broken. Therefore the only correct way of forecasting, in my opinion, is the wave analysis and also Fibonacci's expansion. I consider, the price is in a wave of III of (III) and has the lengthening form. As the following level of Fibonacci level about 30000 acts. Proceeding from it I expect the beginning of big correction since this level of the price. For myself I set as the first purpose the last reached high equal about 19950 that will correspond 0.382 according to Fibonacci of this growth.
Sale on = 29650
TP1 = 19950
SL = 30800
I congratulate all on coming New year!
Information provided is only educational and should not be used to take action in the market.
Comment:
There is the last subwave, further there has to be a turn.
Trade closed: stop reached
