Bitcoin is most likely going to lower lows.
Yellow area will most likely give another dead cat bounce in the vecinity of previous low at ~6k.
Green area, between 0.786 and 0.886 fibonacci levels (from ATH to 0) is the are in which I expect BTC to make the last dip, in that area you an see the all time linear regression (from 2010, BLX), and the uptrend that held the price since august 2015, I fully expect that line to hold the price and from there bounce and then go sideways in the white area for a couple of months before continuing going up slowly.
Blue area, I don't WANT bitcoin to go there.
Yellow area will most likely give another dead cat bounce in the vecinity of previous low at ~6k.
Green area, between 0.786 and 0.886 fibonacci levels (from ATH to 0) is the are in which I expect BTC to make the last dip, in that area you an see the all time linear regression (from 2010, BLX), and the uptrend that held the price since august 2015, I fully expect that line to hold the price and from there bounce and then go sideways in the white area for a couple of months before continuing going up slowly.
Blue area, I don't WANT bitcoin to go there.
Note
Retraced to 0.618, touched major 0.5 fib.Note
Note
Going to 0.618 line, it will bounce and then break to test previous low, then it will retest 0.618 from below then break down quickly, then it will go sideways for a while, maybe another dip below 4k to 2.9k or so, but I hope it holds 4k, that's where I'll buy and hold for a long time.Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.