following Elliott waves with combination of Fibonacci retracement, that's my view for this crypto :)
end of correction 25k / middle of the February? then 48/50k target/ end of the March ? :)
repeat trading from couple of weeks ago ? :) Fibonacci entrancement important levels play again, possible SHORT to 0.382 (9280 / 9300 area) and LONG to 1.27 / 1.37 ( 9848 / 9910 area) no financial advice, practice / training purpose only
dates / prices update (BLUE ink lines) to the previous analyse
BTCUSDT, 1D - ahead of halving, from my observation there was always price huge variance around halving and weeks later price usually massively rise, could story repeat again?! Using FIB RETRACEMENT / TREND BASED FIB EXTENSION & FIB TIME ZONE - from what i currently see on the daily chart, as above - not sure if we reach fully 2.5k price, but i strongly believe...
ELLIOTT WAVES STRUCTURE (5,3,5,3,5 correction 5,3,5) mixed with reverse FIBBONACCI RETRACEMENT and MA 21 what we can observed after yesterday, touch of MA21 on Daily chart / FIB 0.618 touch / RSI 50 touch and massive rejection - still downtrend - currently completing route to wave 2 8850 / 8900usd and i think we are going nice SHORT down to the 8200usd area....
Following Elliott waves pattern, 1.2.3.4.5 waves with relevant corrections ABC between another 1.2.3.4.5 (1.3.5 action / 2. 4 reaction waves) potentially that's what could go on for next few weeks. We all can see trend slowly change on BTC with massive increase on bullish way, but in some point a bigger correction then only 3-4% will require to moving smoothly...
Lower High / Higher Low you can see a couple of time in this bullish trend, don't wanna predict future, but i can see still downtrend pattern and somewhere in the middle of February 2020 in my opinion we will see BTC against USDT bellow 6k. What do You think of this analyse?