Bitcoin has a lot to recover from. Its a world away from satoshis dream of a communistic like monetary system, now farmed by the rich corporations instead of individuals. Its a real shame. The graph is obeying that downward pennant pretty well and the ath:6k fib clearly shows where it needs to bounce off. Nice basic chart, makes sense to me at least.
In wave c correction i think so should go lower than 6k if that is the case. There is no real energy in the chart for me and seems weak at breaking through fibs, as well as convincingly breaking the downward pennant. Not a lot has changed in terms of public perception of BTC since september, where it was at 4.7-3.7k. But thats when the big money comes in and fills up the moon rockets with hype and nitros oxide pump levels. Thats when the masses get back in, including those still keen investors that got burned at buying at ATH. Until then...
In wave c correction i think so should go lower than 6k if that is the case. There is no real energy in the chart for me and seems weak at breaking through fibs, as well as convincingly breaking the downward pennant. Not a lot has changed in terms of public perception of BTC since september, where it was at 4.7-3.7k. But thats when the big money comes in and fills up the moon rockets with hype and nitros oxide pump levels. Thats when the masses get back in, including those still keen investors that got burned at buying at ATH. Until then...
Comment:
Apart from the boittom, all there or there abouts. I can see it going lower thought. Still on the train of 4-5k in next few weeks/months. Too much going on in alts.