Fibonacci retracement as well as Resistance Levels
Updated
As i analysed the bitcoin for a moderately long term strategy.
Seeing the Fibonacci retracements , it shows a correction ahead till 4600.
ALso the resistance levels coincide to give the support level at 5100.
Seeing both of these i think it will go somewhere till 4800-4900, and then shoot up again. So that would be the best possible point for buying for a term of 1 year or two.
(Also the MA indicators indicate a reversal signal along with the CMF.)
Also wait till it retraces back from these level , because all this strategy fails if it looses below 4600, which would lead to a steep fall. so let it fall till these points and look out for tren reverse signals.
Seeing the Fibonacci retracements , it shows a correction ahead till 4600.
ALso the resistance levels coincide to give the support level at 5100.
Seeing both of these i think it will go somewhere till 4800-4900, and then shoot up again. So that would be the best possible point for buying for a term of 1 year or two.
(Also the MA indicators indicate a reversal signal along with the CMF.)
Also wait till it retraces back from these level , because all this strategy fails if it looses below 4600, which would lead to a steep fall. so let it fall till these points and look out for tren reverse signals.
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The different Colors in the fibonacci show different levels for fibonacci retracements.
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