Looky here. I've been observing the cycling down trend happening over the last few days with rising wedges coming between subsequent drops. Upon placing horizontal lines at every support/boundary, I overlaid a Fibonacci retracement and voila - everything is lining up perfectly! This would indicate that our bottom support is around 43k, right where we bottomed before.
Could we be approaching this again? I'm not certain.
Will we go below 43k? I'm not certain.
Will the cycle break? And When? I'm not certain.
All I know is this: I'm going to watch carefully and wait to buy until BTC looks more bullish! Maybe then we can break that 51k/52k boundary and rocket TO THE MOON! (I hope)
Of course, this is all speculative, and I am not giving financial advice whatsoever. Just take a look. I hope you readers heard Nickelback "singing" the title.
Could we be approaching this again? I'm not certain.
Will we go below 43k? I'm not certain.
Will the cycle break? And When? I'm not certain.
All I know is this: I'm going to watch carefully and wait to buy until BTC looks more bullish! Maybe then we can break that 51k/52k boundary and rocket TO THE MOON! (I hope)
Of course, this is all speculative, and I am not giving financial advice whatsoever. Just take a look. I hope you readers heard Nickelback "singing" the title.