More of a reminder for myself:
BTC had a remarkable run during the past couple of months and it is going parabolic. Everyone's parabola is showing something else. I have the 100k/BTC narrative for December 2019 in mind.
BTC is due for a correction. We are between .5 and .618 of Fibonacci retracement between ATH and Dec 2018 lows, which is the area where most likely a 40% retracement will occur, which is somewhere between .618 and .5 of Fibonacci retracement between Dec 2018 lows and current high.
The market has two theories sofar:
1) This is the new bull run
2) This is Wave B of an ABC correction from ATH
If 1)
We shouldn't close below .5 Fibonacci Retracement
AND
We shouldn't break the parabola
If 2)
We will break the parabola and have another 80%+ correction, which in this case would have a minimum target of 2600$
Whichever way, we will know within a month.
PS for anyone reading: This isn't a financial advice and based on a narrative that we are on a parabolic growth to 100k within the next 6 months. It sounds delusional, it might be but BTC can be delusional...
BTC had a remarkable run during the past couple of months and it is going parabolic. Everyone's parabola is showing something else. I have the 100k/BTC narrative for December 2019 in mind.
BTC is due for a correction. We are between .5 and .618 of Fibonacci retracement between ATH and Dec 2018 lows, which is the area where most likely a 40% retracement will occur, which is somewhere between .618 and .5 of Fibonacci retracement between Dec 2018 lows and current high.
The market has two theories sofar:
1) This is the new bull run
2) This is Wave B of an ABC correction from ATH
If 1)
We shouldn't close below .5 Fibonacci Retracement
AND
We shouldn't break the parabola
If 2)
We will break the parabola and have another 80%+ correction, which in this case would have a minimum target of 2600$
Whichever way, we will know within a month.
PS for anyone reading: This isn't a financial advice and based on a narrative that we are on a parabolic growth to 100k within the next 6 months. It sounds delusional, it might be but BTC can be delusional...
Not
Here is what happened during the start of the last bull market:
BTC touched .618 Fib Retracement from 2013 highs to 2015 lows then retraced to .5
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.