This idea is based on Masterluc famous chart.
My trendlines are a bit different but we can see many correlation in price movements.
At the moment we are in a support zone formed by the MA50,the ascending trendline and 461.80% of the huge fibonacci retracement.
I drawn just three of the infinite possible move.
The bearish one has correlation with the bearish movement of 2014-2015, which dropped about 78%.
The bullish scenario shows a target of 60k$ for the end of 2018.
as the mid term bearish scenario is still in play,as shown in my previous chart, i think at the moment is the most probable move but anything can happen in this crazy market and the support zone at around 6500-6600 is very strong.
My trendlines are a bit different but we can see many correlation in price movements.
At the moment we are in a support zone formed by the MA50,the ascending trendline and 461.80% of the huge fibonacci retracement.
I drawn just three of the infinite possible move.
The bearish one has correlation with the bearish movement of 2014-2015, which dropped about 78%.
The bullish scenario shows a target of 60k$ for the end of 2018.
as the mid term bearish scenario is still in play,as shown in my previous chart, i think at the moment is the most probable move but anything can happen in this crazy market and the support zone at around 6500-6600 is very strong.
Not
The price broke the downtrend line in log scale chart, but it is still intact in the linear scale. Price is fighting with fibonacci 50% level of last bearish movement and 9000-9100 $ resistance level .
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.