Bitcoin - The strongest support right now! 0.618 FIB
- Today I woke up and saw a massive red dildo and I have to make an update and give you an idea, so keep reading!
- As you can see on the chart, the price went down pretty significantly, but is it really a problem? I don't think so.
- I detected an impulse wave that was completed a few days ago, and we are retracing this wave. There is nothing wrong with that. Currently we are at the 0.618 FIB retracement, which is a classic correction for an impulse wave (1).
- The 0.618 FIB is a very healthy correction and usually the majority is selling while the smart money is buying.
- If you think Bitcoin is going to 13k, let me know in the comment section.
- Counter-trends are usually very steep, which can be seen on this chart.
- Bitcoin is very weak compared to altcoins, very weak. This is an indication of an alt season to me.
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Commentaire:
It pumped extremely hard from the 0.618 FIB, as I expected, and the price retested the trendline. But the crypto market is crazy, and the dump followed.
