Bitcoin appears to be in an ABC correction which would lead us to the bigger fibonacci of 61.8% where it would be the perfect place to buy and to HODL!
Watching for the break of trendline to confirm our ABC pattern.
Thanks and good TA, Once breaks the rising wedge we are on the way to finish the right shoulder of the head and shoulders pattern. The target of that pattern is much lower however.
When that pattern fails, we will get an explosion up. That is what I think is going to happen. The neckline is now around 50000. Just while everybody then think of lower prices, Bitcoin will once more surprise and go up with an fast impuls to the upside and then we are back where we where.
Wiled
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Finally someone said same as I thought:) you can check my idea in profile weeks ago but I couldn't find someone saying the same ;)
semetei125
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@Wiled so do I, acc to global Fib it needs to retest 0.618 level which is around 44K. Otherwise no ATH, and uncertainty will scare many investors and traders
Wiled
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@semetei125 lol yeah now they are saying stupid stuff lolll
When that pattern fails, we will get an explosion up. That is what I think is going to happen. The neckline is now around 50000. Just while everybody then think of lower prices, Bitcoin will once more surprise and go up with an fast impuls to the upside and then we are back where we where.