Any price action between fibonacci 1 and 2.618 is normal.
I don't think it's a coincidence that our long-term consolidation area that i showed in a rectangular is tangent to these points.
Fibonacci 1.618 point is very critical, it differs like night and day.
* The purpose of my graphic drawings is purely educational.
* Never take my personal opinions as investment advice, you may lose money.
I don't think it's a coincidence that our long-term consolidation area that i showed in a rectangular is tangent to these points.
Fibonacci 1.618 point is very critical, it differs like night and day.
* The purpose of my graphic drawings is purely educational.
* Never take my personal opinions as investment advice, you may lose money.
Trade active:
Charts generally target 1.618 or 2.618 fibonacci levels.
Below 1.618 ofcourse 2.618 is possible. No matter what anyone says.
Some people say It fell a lot, there is no logic that it will not fall more. Sometimes bear market can be more brutal.
Below 1.618 ofcourse 2.618 is possible. No matter what anyone says.
Some people say It fell a lot, there is no logic that it will not fall more. Sometimes bear market can be more brutal.
Trade active:
A reaction rise to $28,000 was normal according to this analysis.
Count the elliot waves, we are at the 4 wave now, bears preparing for wave 5.
I am still very bearish and i still think that we will see Bitcoin below $10.000 this year.
Count the elliot waves, we are at the 4 wave now, bears preparing for wave 5.
I am still very bearish and i still think that we will see Bitcoin below $10.000 this year.
Comment:
i expect 24.000 then up to 30.000 again. And finally i expect to enter last and the wildest phase of bear market. Maybe to 9000 or 3300.
I will not buy Bitcoin unless it closes daily above this level.