I remember when I posted my bitcoin analysis mid-December 2019 that bitcoin is now targeting 9500, many "traders" bombarded me with unprintable names. Just about 6 weeks later, bitcoin not only hit the target price but went a little bit above it before pulling back. I wonder what will be the responses now that my new analysis shows that bitcoin will go even higher...
With the motive wave just ended, I expect to see bitcoin going through some corrections before another rally to the upside. The correction may be complex or simple, but in any case, I look forward to updating the chart as the case may be as the market releases future data.
N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
Trade active
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If you have contrary opinion, feel free to post it with data to proof no abusive response(s) will be entertained. Thank you.
Thanks for your reply. As the anecdotal evidence suggests, I see the 61.8 Fib retracement level as a key place for the price action to seek following a pop at 11k. Also, I think there may be a “few” people who got their fingers burned in October when the price spiked to 10k. Thoughts?
BullBearMkt
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@colindarkins, Based on price actions, I am not certain the corrections will start at 10k, rather it has begun at around 9500 (I might be wrong). I am not a fan of fibonacci, but assuming price begins correction at 10k as you suggests, nobody knows how complex the correction will be. We'll continue to monitor the data. I assume a shallow corrections on the current chart but will be updated accordingly as time pass by. Yeah! many traders got their fingers burnt during the period you mentioned as evident on the chart with the spikes.
colindarkins
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@BullBearMkt, Again many thanks for your reply. I really appreciate your insights. I will follow future developments with interest. Look forward to speaking again.
UnknownUnicorn3424570
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I was thinking volatile 10k - 14.5k USD until bull concurrent to a lot of Alts correcting upward.