ccoinanalysis

BTC to 29800 USD?

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BITSTAMP:BTCUSD   Bitcoin / Dolar
We have a strong trend line carrying BTC to the 29800k USD ATH . According to my Fibonacci work, our trend channel may carry BTC to the 30k. In case of break down to the first trend line , careful shorts with tight SL might be an option for me.

It is also should be remembered that the 4h graph includes some bearish divergence signals. Possibly the 5th channel on BTC is extending to the 30k. Then we may see both trend lines break down and possible ABC correction to 16500-19750.

Not financial advice.

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