Bitcoin Target Correction, #BTC
This is an updated chart showing the patterns of Bitcoin completing its final correction from the rise in December 2017.
I expect bitcoin to retrace below 0.382. Right now it is hovering in the light green area. If it dips to the pink area then the next rise will not be 1.618 but 2.618 which equals somewhere around 44k. Given Fibonacci is not 100% in crypto (it was designed for stock and not enough data for crypto for it to be accurate) I would say around 35k is reasonable.
Good Luck!!!
I expect bitcoin to retrace below 0.382. Right now it is hovering in the light green area. If it dips to the pink area then the next rise will not be 1.618 but 2.618 which equals somewhere around 44k. Given Fibonacci is not 100% in crypto (it was designed for stock and not enough data for crypto for it to be accurate) I would say around 35k is reasonable.
Good Luck!!!
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Disclaimer
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.