Interesting Pattern
Updated
Same pattern same result? I guess we're about to find out.
Good luck and hedge your bets!
Good luck and hedge your bets!
Note
If we break the repeating structure, anything goes. Complex correction. On the other hand, if we linger sideways shorts could carry some risk very short term.Given the recent hype around Bitcoin, I can understand the bullish movement in the latest fib box, as there is a fundamental need for Bitcoin. Banks have basically deprecated themselves, banning entire countries and discriminating against their citizens' financial transactions. Censorship like a dagger in the back of the populus. No expensive PR complain necessary, Bitcoin advertises itself.
So I can see it either way:
Short hand, people are strapped for cash, expecting price to go lower is not irrational. But I tend to skew this very bearish scenario towards the short term (1-3 months).
On the other hand, we're due for some big buying sooner or later, so I can also see the bullish/sideways complex correction view, but tend to skew medium to long term on this (3-12+ months).
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