Five days ago I made a post announcing a possible Bitcoin correction forming an ABC pattern
This is the graph of 5 days ago
In which he defined support in the line of 200 daily periods.
Target: $ 8900 dollars Approx.
Today we see this graphic
In which we see that it is approaching the target of 8900 dollars.
I have drawn a descending channel in the graph that can indicate where the bitcoin price can move in the next few days.
What should happen to reach this target of $ 8900 dollars?
Close the daily candle below the midline of 50 periods.
The area would coincide with the 0.382 fibonacci recoil.
I think the trend line will be a target price support, thinking about the upside rebound in the price of bitcoin.
Do you think that the 200 period line will be a target support or will the price remain correct?
What do you think?
Leave your comment or your vote. Your opinion and participation is important
Protect your assets use Stop loss
The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.
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READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are.
Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment.
If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses.
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