Hey Guys!
Bitcoin began to move in ascending channel since early 2107.
Now top of this channel was broken and already retesting. Resistance become support.
As we can see on a daily chart correction remains between 61.8 - 38.2 most of the time
Now there are two clear possibilities. If upside line will keep the price one of the opportunities is 161.8 Fibs, with is area near and about $16000.
Alternative is deeper pull back to 61.8 - 38.2 Fibs and this is distance between 4700-5900 area.
Leave your comments about current situation below.
Bitcoin began to move in ascending channel since early 2107.
Now top of this channel was broken and already retesting. Resistance become support.
As we can see on a daily chart correction remains between 61.8 - 38.2 most of the time
Now there are two clear possibilities. If upside line will keep the price one of the opportunities is 161.8 Fibs, with is area near and about $16000.
Alternative is deeper pull back to 61.8 - 38.2 Fibs and this is distance between 4700-5900 area.
Leave your comments about current situation below.