Today's drop makes it clear that Bitcoin (BTCUSD) is going to retrace as we were expecting... But how much lower can it go?
Let's take a look at Fibonacci proportions for answers...
Bitcoin reached a peak in late June completing a move that started back February 2019... As it moved lower, it found at the 0.382 Fib. retracement level from the last bullish wave. Here we saw a bounce and consolidation that lasted for almost three months. With this level (~$9700 on average) holding the price.
This level has been broken and Bitcoin is now moving lower. First stop was 0.5 Fib (~$8,500).
Next is EMA50 or ~$7,900 as mentioned in my previous updated. If this level fails, then the next Fib. support that follows is $7,242, which is the 0.618 Fib. from the last bullish wave.
This move is still developing, but the momentum has now shifted completely towards the bears... We have been warning for weeks...
Feel free to leave a comment if you have anything to share...
Thanks a lot for reading.
Namaste.
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The money will be used to pump the alts...
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Ripio Credit Network (RCNBTC). Our trade is now at 212%+ of profits.
Bitcoin drops $1,000 dollars and we see the Binance alts/btc reaching new highs... With such a strong drop all of the alts should be on the floor...
Take this as another signal that the cycles are changing.
Here is the chart:
Namaste.
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Tieron (TNTBTC) is another good example:
And HOTBTC didn't drop 1 satoshi on a $1,000 usd BTC drop... We can say that the bottom is in for most ALT/BTC pairs...
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Loom Network (LOOMBTC) just had a bullish breakout:
SKYBTC will also move:
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THANKS A LOT FOR YOUR SUPPORT!
When you learn to trust, in yourself and in your heart, the common meaning of the feeling of grieve disappears... It becomes a moment.
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Let me tell you that the path is already secured. The vision always is/was 1,000% clear and exactly what I want.
As I got distracted and entertained by other peoples doubts, they became my own... Humble entertainment entertaining outside doubts but I never forget my goals.
At this one moment I am really suffering, people are looking like its the end of the world.
It might look like it, but deep inside there is fire burning and lighting up my Soul.
It is not pain that I am feeling, I am enjoying this moment to the fullest while sharing it with you all.
At the end of the path, I will be reunited with the Heavenly Father and the ultimate Creator of all of us...
I feel blessed to be able to share my story...
I truly appreciate your support...
Ahhhh, right!!! ... That's what I wanted to say from the beginning...
If we break 0.618 Fib, then all we can do is wait patiently till it drops to 5k
Do you think it's the same as it was back in 2018, when it dropped from 6k to 3k? ( here from ~10k to 5k )