Target 4.4 is .618 fib retracement level. Get ready :)
It is currently forming the right shoulder on an inversed head and shoulder pattern. Wait for it to run up to 2000 should be a conservative price target. Happy trading.
Exciting to see ETH starts the ATH. Longterm target - $700. It might complete this move before the yearend if it follows the same strength as the beginning of the years. Let's see.
We are on wave 4 retracement to above wave 1, then go to form wave 5. Target 2055. But in crypto world, wave 5 is normally the longest, so we might see it goes to the next level of Fibonacci (see dotted arrow). Good luck and happy trading to you all.
Every time it makes a new ATH, it does twice (one purple circle, one yellow circle), we are in the second circle. Buying here is very dangerous unless the channel is breaking from upside to confirm a new degree of a log channel start forming. I wonder who is buying now.
For those who missed run from previous low - here is the good news. Rising megaphone/widen wedge - education.howthemarketworks.com Will it drop hard like last time when we were on holiday? Please make sure you have some limit orders ready to catch some bitcoins.
There will be an announcement from Omisego in December, let's see if this bull flag can breakout upwards and reach profit target of 17-18.
Can it get more bullish than this? Target1: 80 Target2: 97 Target3: 116
If we are able to break 420, 500 is within reach.
The retracement at the Fibonacci level of 0.786 is done. Let's see if it can make an upward movement from here to break the bull flag and reach the target.
Please, anyone, tell me what are the odds BTC will go higher, meaning outside of the channel without a correction back to 5k? Thank you.
BTC 0.5 Fibonacci retracement is also the measure of h&s pattern if we goes down. Plus meet the up trendline and 200 MA on 2H, or 100 MA on 4H. Let's get ready.
It is done in the past, will it do it again?
BTC fib level indicates it has the potential to run up as far as 7500ish. That means the uptrend channel would have to be broken. I suspect huge correction after the fork to 4600, then 8400. :)
This idea is borrowed from @DianKemala web of trendline theory. Plus, consideration of each correction was around 40%, I come up with a target price of 7400 :) Accidentally, it is also a fib projection level area, which I didn't draw that to make the chart unreadable.
When it is all time high, all we got is fib projection for the profit target, if the trendline is meeting at one of the Fibonacci levels, that could be significant. The upper channel and fib level project meet around 6200, that's where wave 3 ends, ideally. Wave 4 would be around Oct 25 the hardfork, a slight retracement to 5455 (fib retracement at .236). I am...
Look at the chart area that is highlighted in triangle...as well as the ABCDE wave when dropping. I cannot help but wonder if it will follow the same foot steps when the price is recovering. I would open a long position around $47.50-$48.00 to ride it up. This price level is above Fibonacci Retracement of .786.
Let's go fishing, the lower the sea level, the bigger the net :) (see my yellow circles)