Hee everyone,
Welcome back to my analysis about Bitcoin for the short/medium term. This time I used the Fib Retracement because it seemed to be very popular at the moment. Everyone is trying to find a way to see where Bitcoin will be stopped out if we see a Pullback. In my opinion this pullback will happen 95% sure, but the next question is to which range?
With the FIB retracement we are seeing a strong support on the 0.5 lvl, 4238 Dollar. In my opinion this seems like a target for Bitcoin to let the first pullback momentum stop. From 4238 we will probably see another leg up to 4800 region and then we could meet our low at 3125. This point is really important!! It's possible that we will try to break the 6k region from the 0.5 Fib support and never see new lows like this. For traders it doesn't really matter and you could long the 0.5 support with tight SL. For the long term investors I recommend to take the minimum risk. Take positions around the 0.5 support of 80% of your fiat and the other 20% could be used if we are gonna see lower lvls or when we are gonna break 6k.
Hopefully this will help you out, sorry for the grammer mistakes because I didn't had time to check this message. Would love to hear you opinion!
- Hans / Plaxidoeda
Welcome back to my analysis about Bitcoin for the short/medium term. This time I used the Fib Retracement because it seemed to be very popular at the moment. Everyone is trying to find a way to see where Bitcoin will be stopped out if we see a Pullback. In my opinion this pullback will happen 95% sure, but the next question is to which range?
With the FIB retracement we are seeing a strong support on the 0.5 lvl, 4238 Dollar. In my opinion this seems like a target for Bitcoin to let the first pullback momentum stop. From 4238 we will probably see another leg up to 4800 region and then we could meet our low at 3125. This point is really important!! It's possible that we will try to break the 6k region from the 0.5 Fib support and never see new lows like this. For traders it doesn't really matter and you could long the 0.5 support with tight SL. For the long term investors I recommend to take the minimum risk. Take positions around the 0.5 support of 80% of your fiat and the other 20% could be used if we are gonna see lower lvls or when we are gonna break 6k.
Hopefully this will help you out, sorry for the grammer mistakes because I didn't had time to check this message. Would love to hear you opinion!
- Hans / Plaxidoeda