Bitcoin is still at a superbullish trend
The final target is about $10500
In $8000 area there's possibility to have a correction to 0.5 fib. It will if it reaches to 8300, and it won't if it breaks the 8500
And after reaching $10500 Target there should be a sharp correction to ~0.23-0.25 fib
Happy trading :)
There is no doubt that when comparing charts, there is a striking resemblance between Gold and #BTC performance.
In 2016, Gold retraced to the 0.382 FIB level of the entire downwards structure and Bitcoin appears to be following the same trajectory with BTC 0.382 FIB level being $9,585.
If we can get through the solid resistance level of $8,500 first, the next...
Stay away from Bitcoin at this point (7800$) as we can see a big dump fall back to 3500-4500 in next few days. As per my analysis, am waiting for this when it touched 5200$ but it grew upto 7800$ in last week. Recent growth is completely fake & manipulated price because recently binance got hacked and 7000 BTC (40+ million dollar) we hijecked in this activity. We...
So I'm guessing we land and bounce in one of the 3 areas,
30ish% cause vpvr, 618 fib and also 50% fib channel
40ish% area because most of the dips happen between 30-40, would land near the bottom of the fib channel and also on the 382 fib
44ish% $4200 because of that big resistance that got broken and never retested
I think 44$ is least likely but I hope it...
After BTC makes big runs, it likes to dump 30%-40-% It's not what I want to happen but I'd be ignorant to ignore the many times this would happen.
Of course we could just be bull flagging and getting ready to run up some more but we'll have to wait and see.
either way it's amazing to be where we are right now after waiting so long for the price action to get here.
Traders who have already been burnt and learnt the experience know not to get too much carried away by the general euphoria in the market especially when its a bit too much. Agreed that BTC has started a bullish trend and the sentiment is quite positive everywhere, but this is where we have to be careful. Now seeing the price action where BTC jumped 1000 points in...