As we see the bitcoin price, each time after reaching its peak, it falls (by 35%) to the MA 120 (level 0.618 of Fib retracement) and grows by 150%. This is already a common scenario for Bitcoin. Well, now it will drop to 5,000 and it's not hard to guess what will be its next peak - it's 12400. After that it will fall to 8000 and so on, until unknown what will stop it.
Comment:
Bitcoin passed the first line of resistance. But this upward movement does not mean that the bitcoin has started the uptrend until it has passed the last line of resistance. BTC could still reach the mark of 5000 and I think it will be about 10 days.
