BTC - Make up yourmind! $11000? $8500 in play?
Historically, BTC corrects between 0.5 and 0.618 fibb levels. As you can see, last time it touched the trendline is september. I consider September the official start of the intense rally BTC has generated. I think we're ready for BTC to cool down a bit so the king can go back on his way to 20K and above.
Measuring from september low of 3K and the high around 20K, 50% retracement would put us at 11000 or 9500. Massive panic selling would cause 8500, but I think it'd just be a candlewick unless there is some FUD around at the sametime.
It might take more than you expect since the 13k-14k seems like a solid support.
I would also put my eye on the 17th as that's when BTC futures close. Some volatility to be expected around then.
Good luck everyone.
Measuring from september low of 3K and the high around 20K, 50% retracement would put us at 11000 or 9500. Massive panic selling would cause 8500, but I think it'd just be a candlewick unless there is some FUD around at the sametime.
It might take more than you expect since the 13k-14k seems like a solid support.
I would also put my eye on the 17th as that's when BTC futures close. Some volatility to be expected around then.
Good luck everyone.
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