Bitcoin was quite bullish on the lower timeframes and started breaking the equilibrium wedge up but rejected hard and has now trapped some fomo longers and shaked people out of their short. My guess is that we might resume the bearish trend but will build up the panic over the course of few weeks/months. We will likely stay above 3130 and range between 3200-3894 for some time in february and make a move down after. RSI on the 3D still holding the downtrend and below 50 value. Volume is relatively still decreasing. We made a lower high close on the 3d candle and current 3d candle is bearish engulfing. This candle closes 13th of January so lets see. As I don't have a crystal ball I don't know how far down we will go, but I have some levels where I will buy in accordingly looking at trend and price action. I will buy from 2850 every level down until 1800 and with that average i'm happy to hold for the ''longer term'' as I do believe that Bitcoin and crypto will appreciate in price the coming years. I'm currently short targeting lower and will trade my way down to accumulate more bitcoin ( cheaper btc = more btc for your usd ).
Back again for Bitcoin! If you appreciate the chart please hit the like buttom and if you want more ideas hit also follow.. Thanks! - What you see is two bullruns in the past years, both with Fib channels in it. - Buttoms are highlighted white - Also volume has been highlighted white - There is a black line to compare volume (green candles) - Green lines are support levels Based on it's bullruns you clearly see the bottom of the previous bullrun. I've highlighted in white. According Fibonacci channels the bottom target must be much higher. But fallen much lower.. There was reversal thanks to relative high volume for that period. If we can trust on historical patterns for the future our next buttom will be also lower than Fib channels will target. I think we will go lower indeed, check volume. The next bottom will also be in the grey zone of Fib the channel. The target I've highlighted white, with red line in it. Unfortunately the volume is in the current period much lower than feb 2015, see the black line.. That will bring price deeper low. Thanks for reading! If you appreciate the chart please hit the like buttom and if you want more ideas hit also follow.. Thanks!
Bitcoin will go to the top anyway, all the time we climb, if we look at my chart with FIBB lines, we see that the strength of the decline began on November 24 and ended on December 7, 2018, since then we have accumulations, and from December 17 it started reflection, so the chance for a double bottom, decreases with each day, anyway, the main rebound will take place in 3 months 2019. Of course, there is always a chance of faster turnover if most of us trust in the future currency and take matters into their own hands. :)