Bitcoin, Bears and Blood

Bitcoin is approaching our first resistance at 3749 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where a potential reversal could occur below this level. recoil).

Over the past 24 hours, Bitcoin adds more than 8% and trades around $ 3,500, showing the strongest rebound in the last 3 weeks. Along with the growth of the BTC price, trading volumes are also growing, which confirms the serious mood of buyers.

Using Elliot Theory & TI's, this is the most likely scenario I see in play. We see some short-term relief until Christmas before we do our last decent to make sure the fund.

• NVT should bounce as it has done many times (October 2012, June 2013 and January 2016)
• Fib Resistance Fan has also been a strong support / resistance indicator throughout the year
• Previous high volume around 3k - 2.8k region in the past, since it falls below 3k. I think the bags will be filled there because it is a bargain price that we will never see again. It seems as if we are in a falling wedge that will take btc down to around $2700. Short with stop loss set on a breakout gives good risk/reward.
  if price action does not continue strongly upward and walks sideways , I wouldnt be surprised if we saw sub 2000$prices .
  tell me what's your take and your prediction on bitcoin.
  resteem and upvote and comment on my post if you found it helpful.
  happy trading.