hello guys and gals
this is very critical time in BTC history
in fact bitcoin was in this situation before three times and every time behaved the same. yes history repeats itself ...
if you pay attention, every time in the past btc touched these fibonachi levels react the same.
if you draw fib retracement from the bottom to top(bottom of bull market to top of bull market), you'll see after a feedback to 1.272 level of fibonachi the price goes to another level and a new ATH appears in the chart...right now same thing is happening, after a feedback to 1.272 fib level in early 2017 price went up to $19764 and made a new ATH then came back and show it's new bottom then rise again came back to same area then rise to 1.618 fib made a feed back to 1.272, hold it very well and rise up to 2.272 which now btc holding this key level (1.272) very well and the target is $200K
this happened three times before and if you look carefully every time exactly same thing happened!
and about death cross that scared so many people:
death cross is lagging indicator! it's moving average 50 and moving average 200 on daily time frame which i couldn't show you here because here we are on weekly time frame but death cross happened few times in the bull market because of manipulating the market! price goes down because of sell volume and then moving average goes down with it and cross happens! as i said it's a lagging indicator and doesn't mean we're in bearish move
if we lose the key support level of fib 1.272, yes that's a bear market but it's holding very well and at this point there is no sign of bear market and all you hearing is just manipulating the market
have a nice day :)
this is very critical time in BTC history
in fact bitcoin was in this situation before three times and every time behaved the same. yes history repeats itself ...
if you pay attention, every time in the past btc touched these fibonachi levels react the same.
if you draw fib retracement from the bottom to top(bottom of bull market to top of bull market), you'll see after a feedback to 1.272 level of fibonachi the price goes to another level and a new ATH appears in the chart...right now same thing is happening, after a feedback to 1.272 fib level in early 2017 price went up to $19764 and made a new ATH then came back and show it's new bottom then rise again came back to same area then rise to 1.618 fib made a feed back to 1.272, hold it very well and rise up to 2.272 which now btc holding this key level (1.272) very well and the target is $200K
this happened three times before and if you look carefully every time exactly same thing happened!
and about death cross that scared so many people:
death cross is lagging indicator! it's moving average 50 and moving average 200 on daily time frame which i couldn't show you here because here we are on weekly time frame but death cross happened few times in the bull market because of manipulating the market! price goes down because of sell volume and then moving average goes down with it and cross happens! as i said it's a lagging indicator and doesn't mean we're in bearish move
if we lose the key support level of fib 1.272, yes that's a bear market but it's holding very well and at this point there is no sign of bear market and all you hearing is just manipulating the market
have a nice day :)