BTC 1D Chart - Possible 40% Retracement
Looking at the previous Dec 2017 Bitcoin Bullrun, despite its difference in volume and scale, patterns are looking very similar in structure. Relative to both the bigger highest highs and highest lows prior to the last consolidation, the fibonacci retracement indicates the 1.618 in the same target price. If it re-enacts the patterns and Bitcoin loses its momentum reaching the 68K-69K target, there is a possible 40% retracement back down towards the 
41K mark. If however, the price goes beyond and holds the support line, Bitcoin will be primed for a continuous uptrend.
41K mark. If however, the price goes beyond and holds the support line, Bitcoin will be primed for a continuous uptrend.
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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.