Price continues to descend and now seems to be headed for the 71.8% - 84% Fibonacci Levels.
Price bottomed out at $3,128 in December 14, 2019 which was an 84% depreciation from the ATH of $19,891.99 (from $0).
If Bitcoin was to replicate this 84% depreciation cycle, the bottom would be at $4,847, an 84% depreciation from the top price level of $13,868.44 (from $3,128).
And currently, price seems to be lining up closely to the 71.8% from the last bear market.
Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Price bottomed out at $3,128 in December 14, 2019 which was an 84% depreciation from the ATH of $19,891.99 (from $0).
If Bitcoin was to replicate this 84% depreciation cycle, the bottom would be at $4,847, an 84% depreciation from the top price level of $13,868.44 (from $3,128).
And currently, price seems to be lining up closely to the 71.8% from the last bear market.
Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Comment:
The price actually hit the 71.8% level.
Comment:
Bitcoin - Where Are The Bulls? Where Is The Support?
Comment:
CLE - Capitulation Level Event is upon us. Brace for impact!
Comment:
Finding support with confluence of trend lines.
