ux041
Short

4,900 Dollar Bitcoin Looks Inevitable

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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Based on drawn fibonacci, we experienced 6529 as a strong support. Already we had some resistance and support lines in 8,500 range. As you can see price is converging to 6,529 range price. Volatility decreased significantly in prior month (Sep). So I think one thing is inevitable here ! and that's 4.9k Dollar bitcoin . Each fibonacci level played major role in BTC historical data price. so here we get to level 0.5 which played as a resistance for bitcoin almost a year ago (13 months to be precise!). After that we got 0.618 level which is GOLDEN ratio after all !! that level sets on 3,284$ and looks some impossible target to reach.
So yeah ! Fibonacci calling bitcoin SHORT
fits his biased thats why
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Why did you draw the Fib there? Traced from Jan 7 @ 11800?
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