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!
As an longterm investor who invested much earlier than most of all, I still think that btc will go up again. Before this there is a cycle that needs to be completed all the way. So lets have a look at the base trend.. There are still 2 lines below the actual value of btc. For sure the amount of people buying in is alrady growing but we all know that this whole market is based on what we call whales or maybe institutional investors. They will wait until the very end, just because they can. Wait with all kind of margin leverage until there is a clear patarn. We will see it when it's time (very long candle shadow on the weekly)