BITCOIN WAY ๐Ÿ“ข๐Ÿ“ข๐Ÿ“ข!!! It has done a head and shoulder top form ๐Ÿ“Š๐Ÿ“ˆ๐Ÿ“‰steemCreated with Sketch.

in #bitcoin โ€ข 7 years ago (edited)

As we can see in the following graphic there were 5 valid waves that would form the first of a new bullish cycle, but the price should find support and avoid a new minimum.

Analisis BTC 1.jpeg

The minimum target of that head and shoulder top is around $ 8800 but an extension of the neck line (of the Head and shoulder bottom that gave us that first impulse) converges with 61.8% of Fibo. We'll see if that support is strong enough and keep maintained otherwise we should get prepared to see maybe new lows.

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fundamentally nothing is wrong with bitcoin, glad TA is giving the signs.

Yes, but that's the way that all markets should move.

Nice analysis! And yeah I predicted a head and shoulders pattern for BTC as well! We should have support at 9000 at the 78% fib level. Followed you since I did an very similar TA update on BTC yesterday!

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