AdamHong
Long

BTCUSD: Where Will the BTCUSD Go Next?

BITSTAMP:BTCUSD   Bitcoin / Dollar
The market soared quickly in the past months and a short term correction which pulled back the 0.382RET has finished already.
The price has broken out the previous high point already and it is moving further.
Where will the price go next?
Maybe 4400-4840 is the next target and reasons are as follow:
1.The market had a sharp fall at the 2.618REXT of previous drop and it gives a signal that 2.618REXT is a strong resistance,so next strong resistance is 4.236REXT which is at 4433 level.
2.The price jumped to 2980 level and a correction which pulled back 0.382RET happened,next 2.236REXT-2.618REXT is the following target.
3.Now the market has broken out the previous high,a potential AB=CD is forming, and the completed D is at 4640 level.
In summary, 4400-4840 levels may be the strong resistance, and the market will go there.
But before the market reaches 4400 level, 3690-4000 zone is the short-term target.
So if the market pulls back 2400-2720 levels, it is a good chance to buy again.Or if the market don't pull back,just wait for another new chance.
Kommentar: We cannot imagine the BTC soars again.
Kommentar: The price moved as expected to 4400 and began to have a correction.
Kommentar: Very good, the BTCUSD just hit the 4840 and completed the AB=CD pattern.
Kommentar: A correction happened on BTCUSD.
少则得,多则惑。
Less is more, slow is fast!
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