OG-Hunter

Bitcoin - The Last Line of Defense

BITSTAMP:BTCUSD   Bitcoin
Not financial advice. This is a make or break moment for Bitcoin. In 2017 We had seen a rejection off of the 2.618 Fib level measuring it normally and then we went on to reach out to a full fib extension measuring the top from the 0.236. We never got a 2.618 pull back so we were overextended which could explain the overextended bearish price action and fear. If we can bounce from the 1.618 like in 2017 which we also saw in July we could see Bitcoin hit around the 75k area. If it does the same thing as it did in 2017 which I don't think it will we could see prices hit upwards of 300k which is very unlikely. Additionally we just broke the 50 week moving average which we need to go above and worst case scenario would be the 200 week moving average which has historically been the bottom for Bitcoin. Time will only tell but good luck to everyone.
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