From here btc can either:
-continue to range in the triangle
-move to the next fibonacci level
If we look at the parabolic growth in 2013-2014 we see alot of similarities:
(tradeview chart):
- crazy bullrun untill end of the year
- then a simmilar bear market with bounces on the fib levels
- death cross on daily
After last parabolic run we bounced hard of the 0.236fib level. Yesterday (29-3) we broke with a big red candle through the 0.382 fib level.
This would give us a short target of 4680 at the 0.236 fib.
-continue to range in the triangle
-move to the next fibonacci level
If we look at the parabolic growth in 2013-2014 we see alot of similarities:
(tradeview chart):
- crazy bullrun untill end of the year
- then a simmilar bear market with bounces on the fib levels
- death cross on daily
After last parabolic run we bounced hard of the 0.236fib level. Yesterday (29-3) we broke with a big red candle through the 0.382 fib level.
This would give us a short target of 4680 at the 0.236 fib.
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