The Jury is still out - but judging by the magnitude of the last major fibonacci cycles - it looks as if we will have a good chance of catching right around $7500 - with maybe one or two candles possibly going as low as $4500. Obviously if BTC goes that low it will be an extremely attractive price for deep pocket traders, so don't expect it to stay there very long - but that Yo-Yo price action could be enough to slingshot us to a new uptrend cycle - just in time for Chinese New Year.
Here is a very interesting article showing the 12m cycles of Bitcoin and the correlation to the Lunar New Moon: https://bitcoinist.com/bitcoin-price-lunar-new-year-lows/
Once we come back from this brief correction - I expect the market to surge strongly going into the spring with both BTC and Altcoins pumping to all time highs.
Here's some inspiration for the newbies.
Stay Cryptic Ya'll.
-BK
Video Analysis for Bitcoin Chart:
Good post my friend @bkcryptotrader. Just today I published a post about bitcoin and a possible scalability solution with lightning network. Here is the link if you would like to read it: https://steemit.com/bitcoin/@emmanuel250998/lightning-network-a-scalability-solution-for-bitcoin-part-i
Resteemed, mah man! I really hope you are correct. I've been waiting months to see BTC in the 7.5-8k range.
Me too! Amazing Time to Buy coming soon! Get your Fiat Ready for the Great Migration!
thnkx BK
you're welcome!
On point as always, cheers BK. Haven't caught any of your vids lately just been on my grind holding Mona :)