BTC barrels down on $8k - No end in sight! BITCOIN (BTC)
Updated
Friends, traders, greetings....
In our last analysis, I said I wanted to see a retracement after testing the top of the Fib channel. We got that. After a face melting rally, Bitcoin completes another quick 62% retracement and looks towards 8k on a mission.
It appears that, after the events of past weeks, Bitmex bears have either flipped positions, or become weaker at least. We came incredibly close to reaching my target of $7777
I don't have much time for an indepth update right now, but as before I typically target the 127% extension in this scenario. At the very least, BTC looks to again test the top of the Fib channel, there we can re-assess the condition of BTC. But, given the immense strength bitcoin has shown as of late, I expect this to be broken yet again. Where this pump will stop, I do not know.
Previous analyses:
In our last analysis, I said I wanted to see a retracement after testing the top of the Fib channel. We got that. After a face melting rally, Bitcoin completes another quick 62% retracement and looks towards 8k on a mission.
It appears that, after the events of past weeks, Bitmex bears have either flipped positions, or become weaker at least. We came incredibly close to reaching my target of $7777
I don't have much time for an indepth update right now, but as before I typically target the 127% extension in this scenario. At the very least, BTC looks to again test the top of the Fib channel, there we can re-assess the condition of BTC. But, given the immense strength bitcoin has shown as of late, I expect this to be broken yet again. Where this pump will stop, I do not know.
Previous analyses:
Note
lions tigers bears OH MY RAH
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