I believe that bitcoin is nearing the end of a 82 day cycle and is due for a major correction very soon. My price target will be at 5k which is the previous top (point 1) and a 61.8% retracement of point 2 to point 5.
Commento
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*point 2 to point 1
Trade attivo
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Trade attivo
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consolidating triangle on 1h timeframe, I'd be weary if it breaks on the upside
Trade attivo
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Break triangle on downside, watch this space
Trade chiuso: stop raggiunto
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I don't think its coming down anymore, bulls too strong
@jarsonintlrecords, Thanks for your constructive comment
ZaneCEO
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Hi, thanks for your TA. Do you have a timeframe for the 5k correction? is it december, Q1-2018 or...?
prashantagarwal
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the relatively sharp 'V' from 7-16 Nov 2017 and the fact that this V helped it to make a new high .. i think it increases the probability that retrace down can only happen till say 7000-7500 area before continuing the rally to possibly reach next peak? comments welcome.
tradingitsnothing
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@prashantagarwal, Nice observation, the 'V' was a lot sharper than previous. The way prices were able to hit new highs after such a sharp dip could indicate bullish strength
dtruitt
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It's different this time...
bonnzer
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@dtruitt, every time someone tells "it's different this time" )