hardboiled
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Bitcoin in short term correction

BITFINEX:BTCUSD   比特幣 / 美元
Hi I'm hardboiled. trader from korea.

BTC             rallied up from 6k to 11.8k and now time for pullback as I mentioned in earlier post. As you can see in chart, rally up from 8.9k is mini fractal version of bubble mania cycle and it have be pull back till 0.5~0.618 level.

Red square are identical and shows steepness of correction. market is likely to follow yellow line and at some point, panic sell occur.

After correction, there likely to be a upside move, but FUD of G20 is present so I'm not so sure about moving above 12k level. pullback to 6k level is more likely
評論: BTC price recovery from 0.382 resistance was nice. and I think it's starting rally to 0.5~0.618.

At there, probably we can see bigger recovery from there