MOVE FROM 10045 TO 8110 WAS VERY SUDDEN. THE 0.618 RETRACEMENT OF THE MOVE CORRESPONDS TO 9300 BUT I THINK THE RETRACEMENT WILL BE A BIT MORE THAN 9300 SINCE THERE IS RESISTANCE AROUND 9360
THE REST OF THE MOVE WILL BE BEARISH ASSUMING BITCOIN GAINED VALUE FOR THE LAST WEEKS WITHOUT PROPER RETRACEMENT
LEVEL AROUND 7840 HAS'NT BEEN TESTED ON OUR WAY UP FROM 6500 TO 10045
THE LEVEL HAS CONFLUENCE WITH 0.618 FIB (MOVE FROM 6500 TO 10045)
STOP LOSS: 7580
ASSUMING BALANCE OF 500$; TRADE SIZE OF THIS TRADE IS 1032$
Guys, I think LTC found support at 0.616 fib from 2nd wave.
Also, there is a falling wedge. I am bullish with 1.618 fib target.
Please wait until the resistance is broken with good volume.
First target - All time high - 350 dollars
Second target - 490 dollars
I believe that BITCOIN has still some strength to go up.
For couple of months, BITCOIN has been moving between LOG SCALE Resistance and LOG SCALE Supports shown by red lines. Buyers are not really tired at the moment and I believe BITCOIN will move upto 6430-6450 levels and then start going down once it touches the LOG SCALE Resistance shown by red line.