Everybody wants an answer as to where Bitcoin is going next, using past knowledge of Bitcoin price movements, and my handy fibonacci PHI Matrix predictor tool, I think I got this BTC future price action pattern all figured out!
After carefully analyzing the charts I realized what was going on, and created this chart below of BTC/USD on Bitfinex! 11/08/18
BTC Don't Panic, buy the DIP instead! This is the first pullback since our phenomenal triangle breakout, so it is our first chance to participate in the new uptrend. My plan is to wait until we stabilize and buy! The Bears may try to scare us and call us losers, but they don’t realize we have a real trend change this time!
This time the rally is for real, it looks like the sweet spot to buy is all the way down at the core of 6345, as long as that level holds! WOW what a buy hua?
Here is my fibonacci analysis I used to derive our next top at the -23% around $6680!
Heres the thing, there’s always a catch!
We must be very careful not to buy much farther below 6345 because if we don't see a bounce around there then we are in for the real dip back to 6000 or lower! Maybe even 2-4 K as people like Tone Vays have been been predicting. If we break the triangle it would be a disaster! If this triangle breakout was really a serious fakeout, then for sure Crypto Winter Doomsday is about to shake out!
However I doubt the BTC doomsday scenario, but if we all don't stick together and sell here and buyback at the level suggested, we may fail.
In some cases it is better to foldle and buyback so you got the funds to defend the lows! Just my opinion, never sell all, just what you are willing to loose. We all gotta get on the same page or we get real cheep BTC, which is not such a bad thing right? It is all up to you now. My opinion is we will do it and rally for at least the next month or two!
