BitcoinLong
BTC ready for take-off to 5230 USD!?
Updated
What's up everyone!
Bitcoin and the Global Market Cap had 5 rough days. We saw Bitcoin dropping from 4133 USD to 3528 USD and a decline of the Global Market Cap of 20 B (now 118 B).
When we look at the smaller altcoins, top 10 mostly in red, we see a little growth. This is a sign of investors who are willing to make some risk.
Which is obviously a good sign.
When we look at the Bitcoin (XBTUSD) chart we see that we are almost at the end of a B-wave correcting the market down.
The bears had their fun, but i think this ends soon. We probably need one more wave down to 3440 USD before we can look up.
For this C-wave up i have a couple of levels to look out for. When you look at the Fibonacci levels we could end up at 0.618 fib (4120 USD), 1 fib. (4550 USD) and 1.618 fib. (5230 USD) of wave A.
But lets take it step by step and see if the bulls can get Bitcoin up to our first target of 4120 USD.
Thanks for checking my update and please leave a like if you enjoyed it!
I will keep you guys updated...
Bitcoin and the Global Market Cap had 5 rough days. We saw Bitcoin dropping from 4133 USD to 3528 USD and a decline of the Global Market Cap of 20 B (now 118 B).
When we look at the smaller altcoins, top 10 mostly in red, we see a little growth. This is a sign of investors who are willing to make some risk.
Which is obviously a good sign.
When we look at the Bitcoin (XBTUSD) chart we see that we are almost at the end of a B-wave correcting the market down.
The bears had their fun, but i think this ends soon. We probably need one more wave down to 3440 USD before we can look up.
For this C-wave up i have a couple of levels to look out for. When you look at the Fibonacci levels we could end up at 0.618 fib (4120 USD), 1 fib. (4550 USD) and 1.618 fib. (5230 USD) of wave A.
But lets take it step by step and see if the bulls can get Bitcoin up to our first target of 4120 USD.
Thanks for checking my update and please leave a like if you enjoyed it!
I will keep you guys updated...
Note
Bitcoin just bounced 160 USD.Looks like this is the 1st wave of our Bigger C-wave
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