https://www.tradingview.com/chart/BTCUSD/oXAqQXca-BTC-WXY-Retracement-Feb-2018-My-target-8032/
Gmorning, all. No need to panic at the bitcoin price today. This is just the ebb and flow of the market; its bitcoin slowly inhaling and exhaling...
No doubt we are all bullish in the grand scheme of 2018, so we might as well accumulate profit when the market tells us to. We may as well accumulate the bitcoin when the time is right. If you took profits before Christmas last year and bought back into the market at the February dip, well... you'd have a little more jangle in your pocket...
So here's how I'm seeing this week playing out... We still have not seen any indication of the bottom being in. The key timeframe is approaching in the next 48 hours. We may see the 150 period moving average provide a lil support/bounce, but I am not confident that it will hold as support, just act as a speedbump during this decline... I'd be cautious at our first support level, as I am shooting for Support Zone 2 as my buying entry. Support zone 2 is in that sweet Golden Ratio pocket of the Fibonacci retracement from this last wave up.
If the .786 Fib level does not hold, and we slip below, (and PS, this isn't financial advise...), but its time to sell your house and any surplus children to throw into the market.
Let me know how you're seeing things, and please upvote if this helps you out! Thanks for sharing your time!
