I´m back on the road with a brand-new crypto analysis.
For now it´s important to know that bitcoin is the dray-horse of the complete crypto market. If it collapse, the whole market will follow. That´s like all important stock markets simply follows the Dow Jones Industrial Average which you can see now if it drops hard.
We saw one of the biggest corrections in this market with a drop almost 75% from the high.
This is just very healthy because the shaky hands and the uncertain investors are now out of this market.
Only people who believe really tight in this market are in. This gives the huge chance to start a rally that we have never seen before.
Mainstream adaption will start to explode this year and this will create a really big bubble.
But step after step, let´s get really clear on this task: This market is nothing for strong doubted and fearful people who only want to double their money or make thousands of percent. If you not willing to hold your coins due such a big correction do not invest in this market.
This is the market with the biggest risk on the downside and also with the biggest potential on the upside. Please research on your own and do not follow advices from influencers or friends without making your own opinion.
So let´s start with some technicals ;)
On my last analysis I stated „...a hourly close below 8.100$ will set a) 7370 and b) 7000 on the list.
These are fibonacci extensions and are minimum targets, if price will extend it will hit 6420 and possibly even 6000$ soon! „
Finished! Done! Matched!
The 6000 level was hit to the exact point. This was the 2.272 finonacci level (If you want to know more about these levels let me know in the comments).
I want you to look at the because this is a longterm analysis. We have the price trading beneath the and is going to build a buy signal. Our daily candle is looking like a reversal bar at the moment. Important fibonacci support levels are met.
The most important point to look at is a formation which I not saw as a trading idea yet.
You can see a example of this formation on the left side. It is a strong pattern if it works.
Here you have the typical spike of the 5 below the , if price breaks the upper downline a surge to the 12.900 is highly probable.
This could also be the end of the correction and if it is (what I expect) here are 3 targets above the all time high which I want to mention.
**This analysis is not a investment recommendation. Do your research on your own!**