Technically, BTC has been steadily growing in price for about 98 consecutive days. Now the degree of its' growth angle can be really compared to that of an airplane! The sharper a rise, the sharper its' drop. Yeah?!
Very well! A very strong support can be seen somewhere in between 23,169 USD, matching 0.786 Fib. & 26,936 USD matching 0.618 Fib. ratio. Adding that this bottom range is matching also the least possible price at a newly created channel - the 2nd one. So, the aforementioned range is pretty strong enough.
Parabolically, the price stands at the top of 4 different Moving Averages of: 20, 50, 100, & 200 Days for a quite prolonged period. Many technicallists said that 32,000 would be a good support. Yet, on the contrary, it has obviously penetrated 32K just beneath 20-day MA. It takes courage to utterly express what you think and I hope I am not misleading you people.
To conclude, based on Analytics from others, the depth of my own knowledge & experience is denoting that following its' previous behavior a true reversal in price trend cannot be seen in less than 15 - 30 days optimistically. Pessimistically, the worst case scenario would be a more prolonged period of maximum 70 - 90 days, which sounds far too long. But, still please be informed that BTC has really much higher targets (140-200K or even 320-600K!!!)
Very well! A very strong support can be seen somewhere in between 23,169 USD, matching 0.786 Fib. & 26,936 USD matching 0.618 Fib. ratio. Adding that this bottom range is matching also the least possible price at a newly created channel - the 2nd one. So, the aforementioned range is pretty strong enough.
Parabolically, the price stands at the top of 4 different Moving Averages of: 20, 50, 100, & 200 Days for a quite prolonged period. Many technicallists said that 32,000 would be a good support. Yet, on the contrary, it has obviously penetrated 32K just beneath 20-day MA. It takes courage to utterly express what you think and I hope I am not misleading you people.
To conclude, based on Analytics from others, the depth of my own knowledge & experience is denoting that following its' previous behavior a true reversal in price trend cannot be seen in less than 15 - 30 days optimistically. Pessimistically, the worst case scenario would be a more prolonged period of maximum 70 - 90 days, which sounds far too long. But, still please be informed that BTC has really much higher targets (140-200K or even 320-600K!!!)