BTCUSD: Lines for short term, Curves for long term
Updated
Bitcoin seems to move exponentially, but I think it is following a succession of fibonacci whose graph is similar in terms of growth. The numbers like 1000, 2000, 3000, 5000, seem to be more important than 4000 and 6000 because they are part of the succession and reflect part of our nature. That's why I believe that the psychological barrier of 6000 will not be a problem in this bullish period.
- The RSI is not a good tool at the moment because we are reaching new historical maximums.
- The Hardfork would have a positive effect on the price of btc until the beginning of November because it is likely that many people have not yet changed their altcoins to bitcoin, and after the hardfork they are going to change some bitcoin gold for bitcoin, increasing the price a little more (up to 8000).
Remember that the higher we get, the stronger the correction will be.
- The RSI is not a good tool at the moment because we are reaching new historical maximums.
- The Hardfork would have a positive effect on the price of btc until the beginning of November because it is likely that many people have not yet changed their altcoins to bitcoin, and after the hardfork they are going to change some bitcoin gold for bitcoin, increasing the price a little more (up to 8000).
Remember that the higher we get, the stronger the correction will be.
Note
5700 & 5800 Resistances and 5500 & 5400 Supports have not changed. Still looking for a strong movement.
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