We can consider a new cycle starting up!
Starting mid-September 2017, when the BTC flirted with the overbought zone and having its peak in mid-December of the same year, we closed at the beginning of this month the mega correction reaching the level 61.8 of Fibonacci.
I observe the formation of a wave 2 of a new high cycle forming, being able to reach the zone of the 9k, or even retrace to the novel of the 8,2k.
Next level is the area of 15.4k, or even 21k (keeping its due retractions).
Analyzing as a larger cycle: we finalize the wave (2) and start the wave (3) with target in the 30k house.
That's my view of the price action on a daily chart.
Truth is what YOU SEE!
Follow your instincts!
Starting mid-September 2017, when the BTC flirted with the overbought zone and having its peak in mid-December of the same year, we closed at the beginning of this month the mega correction reaching the level 61.8 of Fibonacci.
I observe the formation of a wave 2 of a new high cycle forming, being able to reach the zone of the 9k, or even retrace to the novel of the 8,2k.
Next level is the area of 15.4k, or even 21k (keeping its due retractions).
Analyzing as a larger cycle: we finalize the wave (2) and start the wave (3) with target in the 30k house.
That's my view of the price action on a daily chart.
Truth is what YOU SEE!
Follow your instincts!