Down to Golden Fib, 20WMA, and 30% from top (13.8k-14.8k)

2020年12月10日

Bitcoin as predicted, hit the target price of 20k from my post over a month ago. From here we will see a follow through the the breakdown to near the 20WMA or the .5 - .618 golden pocket Fibonacci zone. That range is between 13.8 to 14.8k, with the 20WMA sitting at 14k at the time of this post. If youre looking to short, short the breakdown after the confirmation of the wedge , and if your'e looking to buy, the best time would be at 13.8-14.8. This could play out in the next 2-4 weeks estimating. Looking at past history from bitcoin near an all time high resistance, we can see that there have been 30% retraces when approaching the all time high. Following that, a 30% retrace from 20k is 14k , which is aligned with the golden pocket, 20WMA, and the correct % decline. Its a promising and strong argument with so many supporting arguments, however, markets are unpredictable. Let me know what you think about my idea and comment yours as well!