The price of Bitcoin has jumped to the highest level since January 2018 reaching almost USD 15000 level. In our recent analysis we have mentioned a running correction labeled as abc. The market has confirmed the end of the correction and the new impulse wave by breaking an upper limit within the upward channel.
The current upward movement is even larger than the one observed in 2019 because the market has broken the 100 percent Fibo expansion. It seems that currently the next possible target for the bulls may be located at the ATH or at 161,8 Fibo expansion at USD 21304.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The current upward movement is even larger than the one observed in 2019 because the market has broken the 100 percent Fibo expansion. It seems that currently the next possible target for the bulls may be located at the ATH or at 161,8 Fibo expansion at USD 21304.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
