After Bitcoin rejected 5000$, it looks like it's starting a very big correction to the lowers levels.
just like in the history - From 2980$ > to 1800$. It didn't re-test this levels yet, and it has to do it before going above 5000$ to 7000$ and 10,000$
If you look at fibonnaci - 50% level is exactly the 3400$ Support, and i won't be surprised if the price will do even deeper correction to the 38.2% fib.
I'm not that BEARISH guy that says bitcoin is going down to doom and will die to ZERO, because Bitcoin is the future of the global economy, but I just say this is something you have to consider happening before we going up and up to the moon. I'm at my core very bullish on BTC, but i think it must to have deep correction before.
Let me know what you think about my analysis, leave comments.
just like in the history - From 2980$ > to 1800$. It didn't re-test this levels yet, and it has to do it before going above 5000$ to 7000$ and 10,000$
If you look at fibonnaci - 50% level is exactly the 3400$ Support, and i won't be surprised if the price will do even deeper correction to the 38.2% fib.
I'm not that BEARISH guy that says bitcoin is going down to doom and will die to ZERO, because Bitcoin is the future of the global economy, but I just say this is something you have to consider happening before we going up and up to the moon. I'm at my core very bullish on BTC, but i think it must to have deep correction before.
Let me know what you think about my analysis, leave comments.