BTC - downside correction to 4.9k USD?

in #bitcoin7 years ago

I just want to give a new update on BTC action. Looking at the double top pattern and the harsh selloff after the recent pop to 7800 USD, a downward correction seems to be more likely than a continuation of the bulls. We have seen a very steep rise from 2.9k USD to 7.8k USD, which would make a correction quite healthy.

We have just dipped to the first fibonacci level and expect a dip down to the 38.2 level where we find a good level of support of previous highs. It seems likely that we see a dip lower to the 61.8 level which is around the 5k USD mark, before we go higher.

Screen Shot 2017-11-10 at 15.28.48.png

Sort:  

Congratulations @vossi88! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes received

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!