50-61% Fib Retracement after target reached, new buy zone
gets wild, $20k swings in price levels.
This target date shows Feb 8th, although we could hit it by Jan 15th as my earlier TA shows. This is just a longer term version and taking into consideration that we are about to break out of the within the next couple hours (if it happens).
If we don't break out of this , I feel we may have entered a new long term downtrend and with Ripple gaining ground, there may be a big move from many loyal to Bitcoin over to Ripple over the next few months, possibly putting Ripple in the lead.
I expect futures markets tomorrow to show Bitcoin targets around $60k. Mark my words.
I also may start my positions on a new coin small, maybe $20, then kick it to $100 or $200 or more as it starts to move up. This way, if I make a bad call, I'm not risking too much too early. Once my confidence is up, I jump in with 30-60% of my overall portfolio value and let it ride for a bit. Then I restart the same process again.
Here are a few more words:
And the best part:
"The derivatives market is, in a word, gigantic, often estimated at more that $1.2 quadrillion. Some market analysts estimate the derivatives market at more than 10 times the size of the total world gross domestic product, or GDP."
Current market cap of Bitcoin, around $300B. Bring derivatives market into play and we introduce another $1T or more within the first quarter of 2018.
The logarithmic growth of Bitcoin is going vertical, therefore the charts will accelerate exponentially in growth.
BTW, I love when people tell me I'm wrong. :D