Today's decline stopped around 23% retracement of bull run on 
BTCUSD from $1830 to $4979. It is likely this was just temporary bottom and BTCUSD will go lower later.
Higher probability targets where correction can end are $3800 which also coincides with bottom of correction we witnessed during August and $3400 that would be around 50% retracement of whole move.
BTCUSD from $1830 to $4979. It is likely this was just temporary bottom and BTCUSD will go lower later. Higher probability targets where correction can end are $3800 which also coincides with bottom of correction we witnessed during August and $3400 that would be around 50% retracement of whole move.
Note
BITSTAMP:BTCUSD reached low at 4000 yesterday and now it is bouncing back. It should not go much higher from current levels of 45xx. Any move above 4600 will probably mean we are going to see re-test of recent ATH at $5000.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.