theTAguy

BITCOIN?! Is it a correction or a major selling???

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hey everyone,

Bitcoin is 6% down today from the daily high. It might be going for another higher low, which can be formed between 50 to 61.8% of the current wave (which is near 50.8k to 54.3k).
The all time high is exact 69k and today's high is $63628 and today's low was $59907.73 . It might take support at the Fibonacci channel too, near 57 to 59k .
Currently, there is less volume in the market. We might see a major move by Bitcoin soon, which might affect the altcoins. The effect can be both positive and negative. As of now, I'm bearish on BTC .

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