Bitcoin on it's way to $9,585 ??
There is no doubt that when comparing charts, there is a striking resemblance between Gold and #BTC performance.
In 2016, Gold retraced to the 0.382 FIB level of the entire downwards structure and Bitcoin appears to be following the same trajectory with BTC 0.382 FIB level being $9,585.
If we can get through the solid resistance level of $8,500 first, the next major resistance will be $9,500 level. We will definitely have a major retrace at this level which will give everyone another opportunity to buy the dip!
Eye's on Bitcoin at $8,500 and $9,500.
In 2016, Gold retraced to the 0.382 FIB level of the entire downwards structure and Bitcoin appears to be following the same trajectory with BTC 0.382 FIB level being $9,585.
If we can get through the solid resistance level of $8,500 first, the next major resistance will be $9,500 level. We will definitely have a major retrace at this level which will give everyone another opportunity to buy the dip!
Eye's on Bitcoin at $8,500 and $9,500.
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.