As expected after the last strong leg, Bitcoin seems to have confirmed the end of wave 5 and started his correction waves.
I closed my position when we got around $ 4,500 and intend to repurchase when we get $ 3,000.
As of the last corrections, the price tends to look for the average of 144 periods. What will be coinciding with the levels of 0.5 and 0.61 of Fibonacci and with the * LTA has been respected since March / 17.
After that, we will depend on the news about the possible hard fork to know if the price will respect the * LTA and will continue in the channel high course to the $ 10,000 or if we will have an even greater correction up to about $ 2,000 searching for * the primary LTA that has been respected since 2012.
I closed my position when we got around $ 4,500 and intend to repurchase when we get $ 3,000.
As of the last corrections, the price tends to look for the average of 144 periods. What will be coinciding with the levels of 0.5 and 0.61 of Fibonacci and with the * LTA has been respected since March / 17.
After that, we will depend on the news about the possible hard fork to know if the price will respect the * LTA and will continue in the channel high course to the $ 10,000 or if we will have an even greater correction up to about $ 2,000 searching for * the primary LTA that has been respected since 2012.
Trade active:
The expectation of retraction in $ 3k according to the previous TA has materialized.
But (catalysed by China's sales) much faster than I imagined.
Which leads me to think that before the hard fork Bitcoin should still find new funds.
It remains to be seen whether the correction should go only up to Fibonacci 61 or whether to seek the main trend line.
The unfolding of this story about hardfork should be crucial in defining this.
But (catalysed by China's sales) much faster than I imagined.
Which leads me to think that before the hard fork Bitcoin should still find new funds.
It remains to be seen whether the correction should go only up to Fibonacci 61 or whether to seek the main trend line.
The unfolding of this story about hardfork should be crucial in defining this.