Trend is your friend till the end! Not bitcoin's, right now! ;)
How are you doing with the bitcoin correction so far? As predicted after the price reacted to the 1.6 Fibonacci resistance, continued going down for a while. Yet every night no matter how dark, is threatened by the morning light! In past hours bitcoin bulls managed to pullback the price to the regression channel's edges (as shown in the chart).
So now what? Is the correction over? probably not! Unfortunately I should say thant, pullbacks are part of the natural dynamics of any new trend, and specially by the time of this writing, price has been stopped by the regression channel's below line, made a doji candle, and started going down from there. I hate to tell you, but frankly this pullback is more like a conformation of the down trend continuation. Rather than ending it.
In the future days and weeks it's highly probable for the price to come down to it's weekly 21 EMA.
Hope this post helped someone. Please don't hesitate to ask if you have any question. I'll be gladddd really!
So now what? Is the correction over? probably not! Unfortunately I should say thant, pullbacks are part of the natural dynamics of any new trend, and specially by the time of this writing, price has been stopped by the regression channel's below line, made a doji candle, and started going down from there. I hate to tell you, but frankly this pullback is more like a conformation of the down trend continuation. Rather than ending it.
In the future days and weeks it's highly probable for the price to come down to it's weekly 21 EMA.
Hope this post helped someone. Please don't hesitate to ask if you have any question. I'll be gladddd really!
Commentaire:
Just a quick update, price has managed to come back into the regression channel (the blue channel) but remember, untill price doesn't breakup the 1.6 fib (which is appr. 58000) we're still in the bearish trend. So don't get your hopes up so much.
