Dom-B-Media

BITCOIN STILL ON TRACK FOR $100k

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Following a break, price moved below the 38% Fibonacci, Daily price has since pulled back the losses.

Looking at the daily chart , Price has used this candle formation in the past, followed by a push higher.
If the pattern is duplicated, the Price will push higher, followed by a retracement and a further push higher. Eventually peaking at $100k before pulling back or ranging.

Comments

intersting idea to use fibonacci this way
+1 Reply
@bimaxim, It's the Elliot Impulse Wave format (1,2,3,4,5)
Reply
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