Back from vacation, some insights to the current market
Hello guys,
It is nice to come back again and share some of my current thoughts regard to BTC.
2018 bear market ended in 15th december and the new bull market started in 8th feb from 3350 level. The high was reached at 26 jun, which is also the 0.618 fib retracement of 20000-3130.
A complexe correction follwed this first impulsive bullish wave, it tested several times 0.382 point at 9600 level (20000-3130) and it failed to hold, then we almost retested 0.236 point (7150 level) and price reversed due to strong news at 7400 level ( which is also the 0.618 retracement of 3130 to 13900, MAGIC ;) )
Now i believe we entered into the 3rd impulsive wave from 7400. The first sub wave is strong, and now we retraced agian to the trend line (draw down from 13900), it is also the fib 0.618 (1st sub wave).
I believe the 2nd sub wave correction is near the end and the 3rd sub impulsive wave should start soon, which target around 14000 area this time.
From fib time, the final target 20000 should be reached before mi-mars
Happy hunting!
It is nice to come back again and share some of my current thoughts regard to BTC.
2018 bear market ended in 15th december and the new bull market started in 8th feb from 3350 level. The high was reached at 26 jun, which is also the 0.618 fib retracement of 20000-3130.
A complexe correction follwed this first impulsive bullish wave, it tested several times 0.382 point at 9600 level (20000-3130) and it failed to hold, then we almost retested 0.236 point (7150 level) and price reversed due to strong news at 7400 level ( which is also the 0.618 retracement of 3130 to 13900, MAGIC ;) )
Now i believe we entered into the 3rd impulsive wave from 7400. The first sub wave is strong, and now we retraced agian to the trend line (draw down from 13900), it is also the fib 0.618 (1st sub wave).
I believe the 2nd sub wave correction is near the end and the 3rd sub impulsive wave should start soon, which target around 14000 area this time.
From fib time, the final target 20000 should be reached before mi-mars
Happy hunting!