The price of BTC has broken 20000 USD with another upward movement within a longer-term trend. However, currently the market may test the crucial target range set by the two different Fibonacci expansions. We’re talking about 100% and 161,8%.
The first one shows us that the current movement may be equal to the trend which has started in December 2018. Second one is measured from the beginning of the current first rally that started in March.
In theory, two Fibo levels may indicate a potential target zone for the bulls and become a potential resistance.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The first one shows us that the current movement may be equal to the trend which has started in December 2018. Second one is measured from the beginning of the current first rally that started in March.
In theory, two Fibo levels may indicate a potential target zone for the bulls and become a potential resistance.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.