BitcoinLong
BTC to break out of the current resistance fib?
After watching the same chart now for a few months, it appears that we are about to test the fib resistance just above this price point.
Opinion: even if bitcoin does go and breach these new levels again, can we determine that there is about to be another rally?
There looks to be considerable momentum along other pairs of bitcoin that are generating interest again at support levels, however all of these could in fact have more room to DD further. In any even if we do see a sudden surge, I would be implied to short it if we do have another ten thousand dollar upwards movement, putting us around the 50,000 - 51,000 mark.
I do little to have mainstream opinions and media disorientate my perception when reading charts, my opinion is my own.
conclusion, I would wait for further confirmation by a fast momentum followed by a fast DD in the 5,000 spread of buy vs sell. Then entry to the long side after this, in the 36,666.00 region as shown on the 0.0168 fib. making a short term very quick momentum play of at least a 4,000 dollar momement.
Opinion: even if bitcoin does go and breach these new levels again, can we determine that there is about to be another rally?
There looks to be considerable momentum along other pairs of bitcoin that are generating interest again at support levels, however all of these could in fact have more room to DD further. In any even if we do see a sudden surge, I would be implied to short it if we do have another ten thousand dollar upwards movement, putting us around the 50,000 - 51,000 mark.
I do little to have mainstream opinions and media disorientate my perception when reading charts, my opinion is my own.
conclusion, I would wait for further confirmation by a fast momentum followed by a fast DD in the 5,000 spread of buy vs sell. Then entry to the long side after this, in the 36,666.00 region as shown on the 0.0168 fib. making a short term very quick momentum play of at least a 4,000 dollar momement.
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