This analysis is done with the belief that the bear market is over and that we have now started the bull run.
Bitcoin has made some big gains the past few weeks and has already started correcting (as expected).
I will be a buyer at the 50% Fibonacci level, which is at around $5800-5900. This is a suitable price to be buying at and it should reach that price in the next 5 days or so (i.e. the low would happen around 21-May-2019 to 23-May-2019).
However, it is important to keep in mind that it is possible that BTC goes down as low as $5000. DO NOT PANIC. If that scenario occurs, it would be normal.
There is a very low chance that it goes lower than the $5000 level. I do not expect that to happen.
Bitcoin has made some big gains the past few weeks and has already started correcting (as expected).
I will be a buyer at the 50% Fibonacci level, which is at around $5800-5900. This is a suitable price to be buying at and it should reach that price in the next 5 days or so (i.e. the low would happen around 21-May-2019 to 23-May-2019).
However, it is important to keep in mind that it is possible that BTC goes down as low as $5000. DO NOT PANIC. If that scenario occurs, it would be normal.
There is a very low chance that it goes lower than the $5000 level. I do not expect that to happen.