17.5 then 12.8K?
Morning folks,
BTC once again confirms our long-term view. Those who read our fundamental reports do not buy BTC. Of course we can't foresee the reasons why it happens, but even fundamental background stands against long-term investment in crypto currencies.
Thus, our 16.5K target is done, which is also 1.27 extension of daily/weekly butterfly. Since BTC is not oversold and it has no solid support levels, now we see short-term pause due to speculators' booking. Supposedly retracement could reach 17.5-17.8 Fib resistance area and re-test broken consolidation border.
Our next target is 12.5-12.8K, which is major weekly AB=CD target and butterfly 1.618 extension (not shown here).
Take care,
S.
BTC once again confirms our long-term view. Those who read our fundamental reports do not buy BTC. Of course we can't foresee the reasons why it happens, but even fundamental background stands against long-term investment in crypto currencies.
Thus, our 16.5K target is done, which is also 1.27 extension of daily/weekly butterfly. Since BTC is not oversold and it has no solid support levels, now we see short-term pause due to speculators' booking. Supposedly retracement could reach 17.5-17.8 Fib resistance area and re-test broken consolidation border.
Our next target is 12.5-12.8K, which is major weekly AB=CD target and butterfly 1.618 extension (not shown here).
Take care,
S.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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