If I Draw the fib extension all the way from March 2018 low to the November 2020 to double top.
We see the possible correction from profit taking all the way to some tops circled at 0.382 Fib @ $13,500 ish
Also you can see the long term support / resistance box fits nicely between the Fibs.
Either way I'm very bullish unless it drop below the 0.618 Fib.
With a close double top to ATH, my thoughts are a profit take from lots of old 2017 bag holders.
IMO this may correct down to old support & resistance level's around $11,000 ish.
If we break lower thru that zone box much lower price action will follow.
Lets hope we just refuel for the rocket to mars.. Early to Mid 2021?
I do notice that the June 2019 top at...
Coti is a fairly new coin that has a low market cap for now.
However Defi coins are very popular & if not one of the defining moments for crypto.
Defi has great real use case in the new way of lending & borrowing for interest.
Lend your crypto for staking for great returns Or borrow crypto to buy a car, house, business loan or investments & pay interest.
Looking at the long term movement of BTC we can see a similar pattern forming like 2 times in the past.
This may play out with a downward trajectory possible to USD$5800 over the next few months.
Covid & stocks are nearing critical level for a economic overall downward path.
Not sure if the Stock market has another fomo crash like May 12, But it could be part...
Looking at the 5 year chart with a clear direction pattern.
With the current world situation we are in for now & the near future I cant see how a major bull run will play out until this set up on the charts plays out.
What are your thoughts?