RawZMoeTow

BTC to 0.786 fib extenstion

Long
BITSTAMP:BTCUSD   Bitcoin
Some may have been scared to reenter in BTC positions as many major moving averages begin to look bearish. A few things I would like to point out to the bullish case. First of all, we dropped right down to the 200 EMA and began to bounce around sideways for a bit and now we are currently riding the heavy upward support coming off of the previously had double bottom around the 6.7-7.1k level. EMA's are starting to cluster up and if this support holds, I say we break out of th current falling broadening wedge to the upside, with fib extension levels at 0.618 and 0.786 being my targets. Most likely to see resistance at all fib extension levels. Watching for the RSI to break out of the descending wedge maybe by the end of the next week or two. Massive moves up before the halving underway in my opinion.

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