Honestly I didn't expect this to happen, but also I'm not that surprised. It's been a tradition for the price to hit .618 fib extension of the previous high:
I'm still bearish and I think that during 2019 we'll visit the low 3 000 and possibly even sub 3K (I still have my bottom target of 1800) because:
1. Still in macro downtrend channel
2. My EW count is still valid ( currently in 3-wave correction of the Nov-Dec dump)
3. The pattern looks like a bear flag
However if I'm wrong (BTC>5600) I'll post an update with my thoughts and ideas.
Trade safe.
p.s. there will be good long setups for alts in the next couple of days.
I'm still bearish and I think that during 2019 we'll visit the low 3 000 and possibly even sub 3K (I still have my bottom target of 1800) because:
1. Still in macro downtrend channel
2. My EW count is still valid ( currently in 3-wave correction of the Nov-Dec dump)
3. The pattern looks like a bear flag
However if I'm wrong (BTC>5600) I'll post an update with my thoughts and ideas.
Trade safe.
p.s. there will be good long setups for alts in the next couple of days.
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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.