Fundamentally, there will be a retracement. That's clear.
The only question is on which Fibo retracement Bitcoin will fall.
Here the possible retracement areas:
23,6 % > ~ 4900 USD
38,2 % > ~ 4000 USD
50,0 % > ~ 3500 USD
61,8 % > ~ 3000 USD
78,6 % > ~ 2000 USD
A following extension to Fibo 1.62 should be possible. We are fundamentally at Bitcoin in a growth...
Bitcoin has tested the upper band of its trend channel, and recent past shows that testing this diagonal resistance has led to testing the supportive region around 100DMA. This is a general overview on the pair and may not be treated as a sell call.
just my few guesses of what will happen. Trade responibly and never on my advise. i think godmode has enough room to go higher also kijunsen line in the ichi moku is moving upwars showing us the price is consolidating.
As I am writing this, BTC is nearing the ATH that so many of us have been anticipating. However I am unsure that the market is ready to sustain these new high levels.
Now before I go any further I want to mention that this is only a theory of mine. Based entirely on my thoughts and understanding of the current market. It is nothing but an idea, that is right...
Tom Demark count shows breakout is confirmed. We have a green 3 on on 4H chart which means up to 24 hours of up trend. Hourly chart also gave a green 2, which confirms 4H chart. 4400 will not hold this time as double tops near to ATH are unicorns. 4600 resistance is weaker than 4400, so it will be easily broken. Today or tomorrow I expect ATH.
A pennant that formed over the last couple hours led to a downturn @ 4400 resistance that managed to break the price channel. Was good while it lasted....seems as though the drop will be relatively short with strong support @4150 level. Wait for the bounce at 4150, buy in, collect your earnings before the retest @4400 level.
This bull trend shows the exact same pattern like the previous one. If you look at the Tom Demark indicator and Stoch RSI it is clearly seen. Tom Demark count looks almost identical. Stoch RSI looks overbought now, just like the previous breakout run.
It is quite possible that it will make a M shape like the previous one.
If we close today over 4383. I expect a...
