BitcoinShort
Bitcoin long term fib analysis. Bitcoin has a long way to sell.
Bitcoin weekly chart. Last major price move on bitcoin saw a fib retracement between swing high and swing low of 786 retracement. We can expect a swing of similar proportions this time around. A 786 retracement of swing high to swing low of this major trend puts the bitcoin price bottom at just above $1000.00. We have just completed a major impulse leg and now it is reasonable to expect a large correction. A reasonable target would also be a 618 and 50% retracement.
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.