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Fibs

Future of BitcoinFibonacci numbers (blue vertical lines) and ratios (purple) applied on time. In case of failure, we break 450, and should expect 260 (last bubbles top) If we keep climbing up and break top resistance expect rally up to 3000 - 4000. Infact targets like 10k for the next bubble are unreasonable. The next bubble will be more like a last breath of the bulls, before a major correction to around 440 (current bottom level). A major correction is needed to balance out the bearish divergence of the last bubble (see weekly RSI etc.) Only then we will find ourself in a more modest uptrend with next bubble peaking around 18k at fib number 8 at beginning of 2017.
BITSTAMP:BTCUSD
by MagnusTradingGroup
41
BTCe Long Awaited 38.2 Fib Target HitHello All, after an excruciating past six trading days, BTC shook me out of my short position late last night on what was a classic 'head fake' move. Fearful of a winner turning into a looser, I micro managed myself out of a very respectable position only to watch it shortly thereafter go exactly to the original target (UGH!). While there is nothing wrong with booking a profit (+$8 or about 1.25%) I certainly didn't do myself any favors. Interestingly. this is now 6/6 of late (someone has actually been counting on TradingView....lol) and had I just left the original trade on and stuck to my original r/r model, I would be on cloud 9 this AM. I will take comfort in seeing yet another setup play out to its anticipated targets, I will be cross at myself for not acting in my own best interests. Stick to the plan, take the setups, live with the results...lessons are to be continually learned
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by CRInvestor
7