BTC Update: $6,000 soon? Fibonacci supports!
BTC following the Fibonacci Extension prices.
You gotta love Fibonacci if you see Bitcoin (BTC) stopping EXACTLY at the 78.6% extension, it broke that resistance like butter and the next one is the 100% extension!
THAT'S RIGHT! If it breaks it the next one would be at 1.618 with a price of $8,016, no i'm not crazy, ask Fibonacci.
Don't get to excited though, as the RSI (Relative Strenght Index) clearly signals an overbought Bitcoin (BTC), not a surprise as it has risen $1,000 in less than 24 hours.
Everybody want to get a piece of that cake called Bitcoin Gold. But you know what they say.
THE BIGGER THEY ARE, THE HARDER THEY FALL
Holy mother the correction that's coming!
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$8000 would be some run for BTC. Lot's of money coming back into the crypto world. Total market cap is approaching $170 billion. Exciting times.
BTC alone is approaching $100B!
Good for day trading however have my doubts on it's impact on long holding. What are your virws
It is clearly overbought, a drop here could be a great opportunity for the people that want to get a piece of BTCGold, as the whales might take profits from this run.
True that.
correction is here? hovering below 5800...
Is now the time for the Alts, you can see ETH above 310.
I think there are so much focus on Bitcoin Gold that a few people are not looking at the sale in the alt coins. It's understandable as the last fork gave people free money and those who timed it right buying bitcoin on July 31st and selling it back on August 19th along with bitcoin gold, the return was almost double the investment. Again, hindsight is 20/20 and I pick the highs in this example. As more and more people start learning about this, bitcoin will keep going up to 8000. But, what happens right after the fork? That's the scary part. Will everyone take their profits?
I'm sure they will and it might happen before the fork, there's so much uncertainty about BTC Gold around.
I took profits at 5900 and stacked up in some cheap alt coins, all that forking and air dropping will not end well i think, the market needs to wipe out the coins that doesn't adapt otherwise we are ending 2018 with 10 different Bitcoins.
@erodriguezc11 I totally agree with you. The trash coins need to be set aside. If not there will continue around a pile of cryptos that do not have any value. Upvoted. @gold84
@tytran something similar to the bitcoin cash scenario may happwn, with a bit different numbers, we are now almost double to the bitcoin cash scenario, and have passed a few more battles. Hope we can time the market and get the most profits out of it. Upvoted. @gold84
I don't think anything bad will happen after ther fork. Just like it was with BCH.
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I think $6,200 is where the 1.618 Fibo lies. Per my chart, if this gives a bearish wick effect, we could potentially see a sizable retreat:
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Why is everybody so keen on Bitcoin Gold?? I mean you dont know if its gonna be a new Bitcoin Cash, or its gonna be a complete failure.... We dont even know if the fork is gonna be succesful...
I know i already took my profits, and i have the feeling that the real whales are planning to do the same, their money just doubled from the dip at $3,000 it looks like profit taking time, and BTC can't keep this pace until the 25th.
I totally agree!
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I agree @erodriguezc11, Bitcoin can't keep this run up all the way until the 25th without at least one more dip. I'm waiting for that opportunity.
Me too, I'm raising cash already, thanks for the feedback.